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Should You Pay Off Your Mortgage Or Invest?

Posted onJanuary 27/2017By

Most homeowners with a little extra cash will inevitably face the dilemma of paying down their debt or investing. There is no straightforward answer to this question; you will have to look at your particular situation, the prevailing market conditions as well do some number crunching. While getting out of debt is always a good thing to do, it shouldn’t come at the cost of spending disposable income that could have earned you more elsewhere. On the other hand, if your investments don’t do well, you would actually be better off just paying down your debt. Paying Down Your Mortgage The interest on your mortgage is a big factor in whether or not you should invest. If your return on investment is less than the interest rate on your mortgage (especially if the interest rises) then the investment is not worth the money. If the interest on your mortgage is…

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Tips for Protecting Your Credit Card Information

Posted onJanuary 20/2017By

Plastic is becoming an increasingly common way to pay, and digital technology offers increasingly more convenient ways to use credit. But with increased convenience also comes increased risk, and these conveniences also allow criminals to steal your information in many ways. Although banks tell you that your information is safe (and to a large extent this is true) there is always the element of risk, and that risk increases if you are not careful in your day-to-day use of the card. But there are a few precautions you can take to make sure that your information is not stolen. Be Careful Of Who And Where You Give Your Information Many places allow you to pay with a credit card, especially retail outlets. Be observant of the surroundings as well as the person who is handling your credit card. Ideally, your credit card should always be within sight, even if an…

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How The U.S. Election Will Impact Canada’s Housing Market

Posted onJanuary 13/2017By

Donald Trump’s win in the U.S. presidential elections came as a surprise to many; the question is now how a Trump Presidency will impact Canada—particularly in the Canadian housing market. During his campaign, Trump promised to carry out mass deportations of illegal immigrants. Also, many Americans have expressed the desire to move to Canada if Trump were to win the election. How would these two events impact the Canadian housing market? Stagnant Interest Rates If Trump were to carry out his promise of deporting 11 million migrant workers who are (presumably) working illegally in the country, this would definitely hurt businesses. It’s no secret that the U.S. economy benefits substantially from migrant labour, and mass deportations would cause businesses to restrict hiring when the cost of labour goes up. The U.S. Federal Reserve will then try to keep interest rates low, and the Bank of Canada will likely follow suit.…

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4 Benefits Of A Short-term Mortgage

Posted onJanuary 06/2017By

In today’s uncertain economic climate, getting a short term mortgage is a move that many homebuyers are taking. While the amortization period doesn’t change, a short-term mortgage allows you to renegotiate your mortgage in light of changing interest rates. While a short-term mortgage may not appeal to homeowners looking for stability and peace of mind, it is good for those who are more cognisant of economic conditions. What are some of the benefits of a short-term mortgage? Flexibility If you expect interest rates to fall within a short time period, then a short-term mortgage allows you to renegotiate in light of the lower interest rate once the current mortgage expires. You can change houses if your circumstances change or there is a housing boom. For investors, a short-term mortgage allows one to “time” the housing market. Once you have found a favourable rate, you can lock into that rate over…

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