TD Economics Highlights • With the Bank of Canada recently signalling that interest rates may rise sooner than many were anticipating, the question becomes how well-prepared Canadians are for higher rates? • Over the medium-term, interest rates will likely rise at least 2 percentage points and there is no doubt that a significant minority [...]

In today’s market, prudent home owners are turning away from variable rate mortgages and are taking advantage of historically low fixed rates. The current prime rate is 3.0% and most lenders are offering little or no discount  off the prime rate when calculating their variable rate mortgages. When, not if, prime starts to increase, it [...]

Spring is here and many are busy getting their bikes tuned up, their yards cleaned up, and putting on their summer tires. This is also a great time to give your finances a spring cleaning. Making sure you optimize your debts to minimize interest costs will help build wealth faster and keep more of your [...]

Once again we are seeing the federal government propose changes to the way Canadian mortgage lenders manage their approval process and the rules they will follow. While this may be prudent financially, it will cause a ripple effect to borrowers, making it more difficult for some, and even eliminate others from eligibility. These rules have [...]