Case #1: Buy It Or Rent It?

Canadians love real estate. Let’s face it we’re all infatuated by it, but sometimes we have to question our desires to see if buying is actually better than renting at a financial level. I’m a true believer that you can’t put a price on emotions. That’s why if your heart and life goal is set…

Why Americans Should Always Buy A Home But Not Canadians

A recent article came my way that was titled “Self-made millionaire: Not buying a home is the single biggest millennial mistake“. This is supposed to make the Millennials rush out the door and buy a home. Make no mistake the author of the article makes very good points. If you’re renting you’re just throwing money…

Why Are Mortgage Rates Increasing?

Just before the start of a warm, sunny Spring weekend the big banks snuck in a mortgage rate increase of 45 basis points and 20 basis. The two big banks that acted? TD bank and RBC. Two of largest banks in Canada. Now some might think that it’s conspiracy because with warmer Spring temperatures come…

Should Rate Hikes Worry You?

This past week the Bank of Canada raised interest rates by another quarter point or 0.25%. That small change didn’t seem like much, but the Bank of Canada prime rate now sits at a measely 1.25%. Still low for historical reasons. The commercial banks followed suit with most major banks raising their prime lending rates…

Avoiding The Debt Trap

I really did mean debt trap, not death trap, but it might as well be the same. The recent spate of interest rates cuts around the world by central bankers have led to some of the lowest borrowing rates ever. Heck, in some parts of Europe we actually have negative interest rates! Who would have…