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Scarborough, Toronto, Ajax, Pickering, Durham, Brampton, Mississauga, York Region and the GTA | Re/Max Community Realty Inc., Brokerage

Household Debt / My Blog

Why consumers should be wary of using the wildly popular home equity lines of credit as ATMs

6/9/2017 | Posted in Financial Health by Shan Thayaparan

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A federal agency is warning consumers addicted to home equity lines of credit — a product increasingly driving debt — could find themselves at increased risk ...

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Income volatility for 10 million Canadians: TD Bank Report

5/18/2017 | Posted in Financial Health by Shan Thayaparan

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Around 10 million Canadians say they have experienced moderate to high levels of income volatility in the past year.

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High house prices prompt Moody's downgrade for Canadian banks

5/11/2017 | Posted in Financial Health by Shan Thayaparan

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Moody’s has downgraded its ratings for six Canadian banks due to their exposure to risk from high house prices and household debt.

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Canadian household debt hits another record in fourth quarter

3/15/2017 | Posted in Financial Health by Shan Thayaparan

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The amount Canadians owe compared with how much they earn hit another record high last year. Statistics Canada said the amount of household ...

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The classic RRSP season dilemma: Contribute or pay down your mortgage

1/27/2017 | Posted in Financial Health by Shan Thayaparan

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The type of person you are will inform the math that goes into your decision.

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Paying off mortgage sooner among top financial goals

1/25/2017 | Posted in Financial Health by Shan Thayaparan

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More than a third of Canadians polled by CIBC said that paying off their mortgage sooner was a key financial goal.

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Canadians keep digging themselves deeper into debt

12/14/2016 | Posted in Financial Health by Shan Thayaparan

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Canadian household debt hit a record high in the third quarter, as the country’s love affair with low interest rates fuelled another round of heavy borrowing.

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Mississauga residents brace for tax bill

12/2/2016 | Posted in Community by Shan Thayaparan

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This week the City of Mississauga began its budget deliberations in council chambers. Staff presented a proposed tax increase of 5.9 per cent on the city’s portion (34 ...

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Higher down payments could be on horizon: CMHC

11/26/2016 | Posted in Home Buyers by Shan Thayaparan

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The head of Canada Mortgage and Housing Corp. has opened the door to the possibility of increasing the minimum down payment needed to buy a house, though a change is not ...

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38 per cent of Canadians with a mortgage have financial difficulty

11/25/2016 | Posted in Financial Health by Shan Thayaparan

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A new report from Manulife Bank reveals that many Canadians are living paycheque-to-paycheque including a large percentage of those with a mortgage.

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Canadians continue to pile up non-mortgage debt: report

11/16/2016 | Posted in Financial Health by Shan Thayaparan

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Canadians continued to pile up non-mortgage debt compared with a year ago but delinquency rates remained low, according to credit monitoring agency TransUnion.

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Canada's record household debt is threatening its financial stability

10/26/2016 | Posted in Financial Health by Shan Thayaparan

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Canada’s debt, swelled by a decade-long housing boom to almost triple the size of its economy, is drawing increasing concern from an international banking community that ...

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BoC welcomes mortgage rules, predicts slowdown in sales

10/20/2016 | Posted in Mortgages and Real Estate by Shan Thayaparan

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The governor of the Bank of Canada spoke of the risk to the economy from the high level of household debts and the rising cost of homes when he announced a hold-steady on ...

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Canadian key household debt ratio hits record high

9/15/2016 | Posted in Home Owners by Shan Thayaparan

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Canadian household debt ratios hit a record high over the spring, according to new figures released Thursday by Statistics Canada.

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Lender warns over rising household debt

8/25/2016 | Posted in Home Owners by Shan Thayaparan

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Canadians are borrowing more as low interest rates help drive a thirst for credit. Non-mortgage loans increased in the second quarter of 2016 according to RBC, especially auto ...

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Household debt eases but mortgages remain strong

6/15/2016 | Posted in Home Owners by Shan Thayaparan

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Canadians owe $1.65 for each dollar of disposable income according to Statistics Canada with an increase in debt levels driven by mortgage borrowing.

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Mortgage debt behind rise in household debt

3/15/2016 | Posted in Home Owners by Shan Thayaparan

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Canadian’s household debt continued its upward trajectory in the fourth quarter of 2015. The latest data from Statistics Canada shows that average debt rose by 1.5 per ...

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Bank of Canada: system could survive major household debt shock

2/24/2016 | Posted in Real Estate Market by Shan Thayaparan

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While the vulnerabilities associated with elevated household debt have increased in recent years, the Canadian financial system remains resilient and could withstand a major ...

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Canadian household debt level rises, hits 163.7% of disposable income: Statcan

12/14/2015 | Posted in Financial Health by Shan Thayaparan

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Canadian household debt hit a new record in the third quarter, as borrowing rose faster than income. Statistics Canada said Monday the ...

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Canada's consumers owe $1.8 trillion as mortgages soar

11/6/2015 | Posted in Mortgage News by Shan Thayaparan

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New figures from one of Canada’s largest banks and mortgage lenders shows the continuing growth of household debt. RBC’s report reveals that total consumer debt is ...

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Mortgage borrowing drives escalating Canadian debt: CIBC

9/17/2015 | Posted in Mortgage News by Shan Thayaparan

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Canadian households are adding debt at an increasing pace and it’s being driven by mortgage which account for 80 per cent of the debt. CIBC says that it is not housing ...

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Canadian seniors racking up debt to fund bigger homes, glitzy lifestyles

9/9/2015 | Posted in Real Estate Market by Shan Thayaparan

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Canadian seniors are getting a lot more comfortable with debt and a growing number are using it to finance their lifestyle, including home purchases, according to an exclusive ...

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Canadian household debt increases but for good things

8/13/2015 | Posted in Home Owners by Shan Thayaparan

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Canadian households are carrying more debt on average than they were last year but it is generally as the result of “good” spending. A report from mortgage lender ...

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Ottawa eyes tougher new mortgage rules, larger down payments, to curb Canada's red hot housing market

7/17/2015 | Posted in Mortgage News by Shan Thayaparan

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The federal government may be ready to take direct aim at Canada’s red-hot housing market, and is actively consulting on a move to increase the minimum down payment ...

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We're spending more on renovations: Altus Group

7/16/2015 | Posted in Home Owners by Shan Thayaparan

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Canada’s ageing housing stock together with influence from TV shows has led to more spending on renovations. Figures from the Altus Group show that Canadian households ...

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A third of Canadians would struggle if mortgage rate grew by only 1%, survey finds

6/16/2015 | Posted in Home Owners by Shan Thayaparan

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A survey by Manulife Bank of Canada says nearly half of Canadian homeowners are taking steps to whittle down their mortgage debt, but many would be in trouble if their monthly ...

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CIBC report warns of increasing insolvencies

6/12/2015 | Posted in Financial Health by Shan Thayaparan

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There has been an uptick in the number of Canadians becoming insolvent according to a report from CIBC. The mortgage lender says that although bankruptcies are down, by 4.7 per ...

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Bank of Canada says risk to financial stability is slightly higher, but system is more resilient

6/11/2015 | Posted in Real Estate News by Shan Thayaparan

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The overall risk to financial stability in Canada has risen in the face of lower oil prices, but the resilience of the system continues to improve, the Bank of Canada said ...

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Fraser Institute says Canadian debt is under control

5/21/2015 | Posted in Home Owners by Shan Thayaparan

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Canadian consumers may be carrying record levels of debt but they are doing so responsibly. The Fraser Institute’s Phillip Cross, a former chief economist at Statistics ...

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Canada PM: data indicate Canadians' mortgage debt is manageable

5/15/2015 | Posted in Real Estate Market by Shan Thayaparan

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All data indicate that Canadians' mortgage debt loads are "very manageable" but some people are over exposed, Prime Minister Stephen Harper said on Thursday.

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