Business & Finance articles

With the Bank of Canada holding interest rates … just how vulnerable are Canadians to debt?

With the Bank of Canada holding interest rates … just how vulnerable are Canadians to debt?

Total Canadian consumer debt including mortgages increased to nearly $1.91 trillion in the fourth quarter, up from $1.82 trillion in the fourth quarter of 2017. TORONTO — Equifax Canada says consumer delinquencies climbed higher in the fourth quarter of 2018 and the credit monitoring company warns that rising delinquency rates are likely to become the

Canadians using their homes as ATMs in a swooning housing market put financial system at risk: DBRS

Borrowing on Helocs to fund everything from home renovations to car purchases has grown faster than residential mortgages since 2017, and undrawn commitments at the large Canadian banks stood at $120 billion./Thinkstock Canadians are ramping up borrowing against their homes even as the real estate market slumps, exposing the country’s financial system to vulnerabilities, rating

The RRSP strategies every investor in their 60s should know

If you are in your 60s, there are strategies you should be considering concerning Registered Retirement Savings Plans.Ryan Remiorz/The Canadian Press During RRSP season, the attention is focused on long-term retirement savings accumulation for young and middle-aged savers. It is not surprising given these are the best clients for banks and investment firms to target

B.C. couple charging $3,100 a month for a condo that’s still losing money told to sell rental properties

This couple owns two condos, but the properties are not generating the return they should be.National Post photo illustration by Gigi Suhanic Situation: Almost $10,000 monthly net cash flow but heavy property investments aren’t earning a return Solution: Sell two rental condos, use net cash to pay down home mortgage, calibrate retirement income A couple

RRSP vs. TFSA: Why the tax free savings account is often the better choice for savers

RRSP or TFSA. Which one is better?Illustration by Chloe Cushman/National Post files TORONTO — The registered retirement savings plan (RRSP) is one of the best-known tax shelters available to Canadians, particularly in the weeks before the annual contribution deadline, which is March 1 this year. But financial experts say a tax free savings account (TFSA)