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Draw down savings then start CPP

Posted on February 8, 2012

Sonia plans to retire when she turns 60. Her mortgage will be paid off by then and she will have substantial savings in her RRSP. Should she start her Canada Pension Plan (CPP) pension at age 60 or wait? Like … Continue reading →

Posted in Retirement Planning | Tagged , ,

Banks rolling back mortgage discounts

Posted on February 7, 2012

The deep discounts seen in the Canadian mortgage market in recent weeks are beginning to evaporate, as Canadian banks pull back on the historic low rates they rolled out in January. Royal Bank of Canada (RY-T53.470.140.26%) announced Monday that it … Continue reading →

Posted in Banking, Globe and Mail, Mortgage, Mortgage News | Tagged , , ,

Canada’s second-largest mortgage insurer plans to take advantage of government constraints

Posted on February 6, 2012

Canada’s second-largest mortgage insurer plans to take advantage of government constraints on its Crown corporation rival, Canada Mortgage and Housing Corp. Genworth MI Canada Inc. executives are making it clear that they see a business opportunity emerging as Ottawa hems … Continue reading →

Posted in Insurance, Mortgage, Real Estate | Tagged , , ,

Line of credit interest rates rising for some

Posted on February 6, 2012

I still remember the uproar when the Big Five banks started raising rates on lines of credit after the 2008-2009 stock market crash. While they suggested it was a temporary blip, the banks didn’t lower rates for most borrowers after … Continue reading →

Posted in Debt, Home Equity, Mortgage | Tagged , , , ,