How much do we spend on shelter, food and transportation?
According to Statistics Canada, an average Canadian consumer spent
$55,151 on different goods and services in 2011 – it’s 2.7% higher than
in 2010. It’s interesting that this increase was just a bit lower than the inflation rate of 2.9% (based on the consumer price index)...
TD under fire again for its collateral mortgage charge
The latest CBC’s report
caused another wave of resentment in the media about collateral charge
mortgages. Please, watch it, since the mortgage market is shrinkingand
we expect banks to charge even more fees to catch up with their bottom
line. TD Canada Trust, offering only collateral charge mortgages,turned
out to be in the focus of CBC’s attention. Recently an undercover
reporter came into one of the TD branches with a hidden camera...
Equifax: Canadian borrowers forced to use high-interest loans as new mortgage rules came into force
Recently Equifax published its new report showing a sharp increase in
consumer loans, which may be a sign of new mortgage rules forcing
borrowers intohigher-interest borrowing. According to the report, Canada
showed a 3.2% increase in non-mortgage loans in the fourth quarter of
2012 compared to the year-ago numbers. It’s well above 2% rise shown
during July-September period (also with a year-over-year comparison)…