In toronto real estate, a strong housing market is making Canadians wealthier, on paper, as the value of their homes outstrips a rising amount of debt. In toronto personal finance, household debt across the country grew by 4.1 per cent last year to an average of $133,170 while average household net worth increased slightly […]
toronto personal finance
RBC says household debt goes up from higher credit lines, car loans
In toronto real estate, Canadians’ non-mortgage debt loads picked up pace in the second quarter, putting households in an increasingly risky position, an RBC analysis suggested. Balances on consumer loans including credit cards and lines of credit – grew by 2.6 per cent year-over-year, driven primarily by the continued popularity of lines of credit […]
Closing costs should be included in condo prices, lawyer says
There are calls for more protection for condominium buyers after a group of new Scarborough homeowners said they were surprised by tens of thousands of dollars in closing costs. Condo buyers caught off guard by sky-high closing costs Earlier this week, about 40 residents of 1328 Birchmount Road got together to compare the letters […]
Household debt rises to another record in Canada
OTTAWA – Canadian household debt rose to a new record high in the fourth quarter of last year in 2015, fuelled in large part by mortgage growth. Statistics Canada said Friday that total household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $1.923 trillion at […]
5 Tips Will Save You Money on Your Home Insurance
As a new homeowner, it may seem like the expenses never stop. First there’s the down payment and closing fees, then your mortgage statements start rolling in—and don’t forget homeowners insurance! While it may seem like another expense, homeowners insurance is pretty important. It offers financial protection if your home or its contents are […]
