Variable rate question? answered:)

I was asked the following question from a client and thought others may find this helpful… Hi Dan, I have a question I am hoping you can help me with. If you go with a variable rate mortgage and you have the option to lock in, when can I lock in, and is it at...

Pitfalls of a Collateral Mortgage

A client (we’ll call him John Smith) came in to see me. He owns a home worth $375,000. He told me he has $25,000 outstanding on his mortgage. He also told me he has a $250,000 secured line of credit on his home that is fully advanced. Total owing is $275,000. This is...

So long 2013…

As I sit in a quiet office on Friday Jan 3rd, it’s hard not to notice that though the New Year has begun, seems like everyone is still off work. Richmond Rd, which I normally cross at 8 am to get my morning coffee, was eerily quiet today, reminding me that maybe I...

Credit and Christmas

As we get into the Christmas spending mode, I thought I would throw out my thoughts on credit cards. I know we don’t live in a perfect world, so take what you can from below. Credit card companies are in the business of making money, lots of it actually, and...

Broker Channel loses ING Direct

When Scotia Bank purchased the Canadian arm of ING Direct last September with a closing Dec 31, we knew that the writing was on the wall, only question was to what degree. Obviously, there is a duplication of services, and direct competition between what would now...