The cost of borrowing for a home has fallen in recent months, despite repeated increases of the benchmark interest rate. An economist explains the seeming paradox.
Canadians need to take steps to better address the financial insecurity of seniors. Otherwise, Canada may encounter a growing tide of desperate seniors in the near future.
Depending on circumstances, it may be time to re-think the bias to paying down housing debt over wealth accumulation in super. At least to do the sums, so you can make an informed choice.
As a former financial counsellor and former consumer credit educator for ASIC, here’s what I think you need to know if you’re considering mortgage deferral, rent relief or bankruptcy.
Negotiated deals between ASIC and alleged wrongdoers leave us in doubt as to the reach of the law.
The 2008 financial meltdown caused millions of Americans to lose their homes, and the austerity measures that followed only widened income inequality and helped fuel the rise of right-wing populism.
(AP Photo/Tony Dejak)
Right-wing populists have exploited key weaknesses in liberal democratic society that were exacerbated by the failure of political leaders to respond effectively to the 2008 financial crisis.
The Financial Services Royal Commission has exposed some irresponsible lending by Australia’s biggest banks.
Glenn Hunt/AAP
The financial institutions fronting the Financial Services Royal Commission are also the ones controlling mortgages, so will an expose of their dealings push property prices down?
Single women borrowed heavily in the run-up to the financial crisis, ensuring they suffered the most in its fallout. Will history repeat itself?
Product intervention powers apply across investment, insurance and credit products but it will never be easy for ASIC to prove the risk of “significant consumer detriment”.
Dan Himbrechts/AAP
Research shows the majority of consumers have low financial knowledge and experience, but they are also prone to behavioural biases that don’t help.
A real estate sold sign hangs in front of a west-end Toronto property. Canada’s newly announced housing strategy contains scant measures to help first-time buyers in pricey markets.
THE CANADIAN PRESS/Graeme Roy
Canada’s National Housing Strategy leaves a large segment of the population that must find a way to afford housing in the private market. More initiatives are needed to help first-time home buyers.