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News Categories: Finance

Finance /  • September 18, 2018
Milestone for FirstOntario Credit Union

FirstOntario Credit Union (118,000 members, $5 billion in assets) has launched its own independent insurance brokerage. This initiative means that FirstOntario has become the first credit union in Ontario to add auto and home insuranc...

Finance / Risk Management /  • September 18, 2018
Added stress

Mortgage Professionals Canada, which represents mortgage brokers and others working in the industry, released a report this past summer stating that an estimated 100,000 Canadians have been prevented from entering the real estate market du...

Finance / Human Interest /  • September 18, 2018
Big little lies

One in five Canadians admitted in a Manulife survey this past May that they have kept their level of debt secret from a married or common-law partner, the CBC reports. Meanwhile, one in nine people hide the price of a retail purchase fro...

Finance / Human Interest /  • September 17, 2018
Poverty insurance

A report from the CD Howe Institute supports the creation of a pooled risk savings program to protect seniors who run out of money in their old age. The report, authored by Bonnie-Jeanne MacDonald, recommends a broad government-led i...

Finance /  • September 17, 2018
Self-employed with a mortgage

On Oct. 1, it will be easier for the country’s self-employed to obtain a mortgage, thanks to Canada Mortgage and Housing Corp (CMHC). The housing agency is providing a broader range of documentation options to increase exibility fo...

Finance /  • March 16, 2018
Canadian debt load a growing concern

Bay Street money manager Gareth Watson, director of Richardson GMP’s investment management group, says the Bank of Canada needs to put its “foot down” in an effort to cool Canadians’ voracious appetite for debt, Business News Networ...

Education / Finance /  • July 14, 2017
Seniors Racking up Debt

Canadian seniors are borrowing more and requiring credit counselling to deal with it. Equifax reported this past May that the debt held by those age 65 and up averaged $15,244 in the fourth quarter of 2016. This is lower than the Can...

Finance / Human Interest /  • July 10, 2017
The kindness of strangers

As early 20th-century American entertainer Will Rogers once said, “A stranger is just a friend I haven’t met yet.”  In today’s immoderately priced mortgage market, this pithy saying may well become the descriptor of the futu...

Finance /  • March 30, 2017
Changes to CPP will enhance income security in retirement

For Canada’s baby boomers — the biggest demographic wave in our nation’s history — the light at the end of the retirement tunnel is becoming ever so bright. (Some, of course, are already basking in the glow.) This massive bubble of ...

Banking / Finance /  • March 7, 2017
Mortgage fraud on the rise

Equifax is reporting that mortgage fraud is on the rise in Canada — especially in Ontario and British Columbia — due in large part to rising home prices. The agency, which maintains credit reports on consumers and businesses, states ...

Education / Finance /  • January 24, 2017
One for the money

Last November was Financial Literacy Month and Canadian credit unions celebrated with the national launch of Each One, Teach One. Created by Vancouver City Savings Credit Union (510,000 members, $20.9 billion in assets) in 2008, Each One, Teach One i...

Finance / Risk Management /  • January 13, 2017
Early 1990s see bank rates plummet

In 1992, the mortgage landscape was undergoing rapid change. With a nearly seven-percent drop in the bank rate over a two-year period, it was prescient of things to come. [March/April 1992] Interest rates have been steadily d...

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