Tuesday, May 4, 2021 / by Earl Gaddi
The Bank of Canada has kept its overnight lending rate target at its effective lower bound of 0.25 percent for more than a year to support the country's economic recovery during the COVID-19 pandemic.
Now, as the country enters its second year of the pandemic, the Bank appears unlikely to change its tune anytime soon.
The Bank announced on March 10 that it would keep the overnight rate at 0.25 percent, possibly until 2023, during a regularly scheduled announcement. Furthermore, since August 2020, the conventional five-year mortgage rate has remained unchanged at 4.79 percent.
James Laird, co-founder of Ratehub.ca and President of CanWise Financial, explains the latest news on the Canadian mortgage market and how it may affect consumers in 2021.
What the latest Bank of Canada rate announcement means
In the mortgage industry, the Bank's decision to keep the overnight rate at 0.25 percent was not unexpected, according to Laird. What's more important, he says, is the Fed's reaffirma ...
Wednesday, August 26, 2020 / by Earl Gaddi
If you work with a family lawyer or a financial planner, you probably already know the importance of a regular review of your estate plan. Usually, an annual inspection (or more often, if advised) is a good idea.
But even if you're not working with a legal or financial professional, you should know that there are three moments that should trigger a review of your estate plan.
If you or your loved one experiences one or more of these moments, it's time to get the paperwork out and review your plan.
At least six elements should be included in the estate plan. These elements do not need to be in separate documents, but all six of them need to be addressed in order to make clear what should happen to your estate, assets, and any dependent loved ones. These six elements shall include:
Will (a document outlining how assets should be distributed);
Power of Attorney (a document that states that you can make legal and financial decisions on your behalf if you become d ...
Thursday, May 21, 2020 / by Tiffany Rosete
Just about every May I sit down to write Homeward Bound; I write about Mother’s Day. And why not… it is a very special day for very special people.
My Mom used to tell me, seemingly repeatedly, to do this and do that, not to do this and not to do that. ALL, I recall very valuable advice. Looking back on it all these many years later, I can say she was and still is, a very wise woman.
Time reveals, in fact, just about every caring Mother is a Wise Woman. I can see why we carve out a special day each year to acknowledge MomsSo here is a shout out to all Mom’s – Happy Mother’s Day!!
For ALL those whose Mom is no longer with us, may you remember the best about them? In addition to that,
there are also many who never knew their Mom due to unfortunate circumstances. I bet someone played that
role in their life and they too deserve a Happy Mother’s Day!
Regardless, we can celebrate this Mother’s Day knowing Moms both her ...