WestJet Sunwing, Canadian Mortgages, Consumer Debt, Bank Of Canada Rates Cuts Unlikely – Market News

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WestJet Sunwing, Canadian Mortgages, Customer Debt, Bank Of Canada Rates Cuts Unlikely – Market News

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WestJet Sunwing, Canadian Mortgages, Consumer Debt, Bank Of Canada Rates Cuts Unlikely – Market News

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About the Author: Richard Money

24 Comments

  1. Great video
    Buying a home today is scary… Prices are still through the roof and with the increase in mortgage rates, I don’t know how this is sustainable. Many will default unless something changes.
    At least the FHSA can help you save money tax-free in order to purchase a house.
    Question: Any idea why many Canadians are not taking advantage of the TFSA? It’s a gift and everyone of age should be using it.

    1. @Ahhh Suke Suke
      Yes, I agree. Schools should teach financial basics.
      A TFSA does not have to be used as an investment account, however, I feel investing in your TFSA is a great idea. It’s been working great for me.
      Thank you for your answer to my question…

    2. Many Canadian don’t have extra money to invest in their tfsa due to high taxes and cost of living

    3. @Darnell Beezer
      There are many Canadians who are having difficulty making ends meet, and as you mentioned, difficult to save any money. It is also shocking how many Canadians don’t know what a TFSA is and how it works.
      Thanks for your answer, Darnell.

  2. Many people locked at low rates during covid, the increase rates won’t affect them until their term is due

  3. The News updates is really awesome; a quick recap of what’s going on in the market/economy, I love it! Thanks Marc!

  4. Wanted to like the video, just to realise I had already done so. Double thumbs up, great videos. Thanks Marc!

  5. Do you think there is a legitimate chance mortgage amortisations will be allowed to be 40 years. Canada needs to build something like 10 million homes now to return prices to affordable levels. How many homes have we built in the last 30 year, 4 million 🙁 heard that stat on mikes money talks.

  6. Great episode Marc. 70 yr amortization!?! 😳 I about fell out of my chair when I saw that. Insanity.

  7. So I’m nowhere close to interest only payments on my mortgage but I am capped at bank limits for both increasing payments amounts and anniversary payment amounts. Being maxed out at these options, is there anyway to get the bank to increase these limits. Likely not as this would reduce principle even faster resulting in less interest collected. Thoughts?

  8. Here’s an idea to help affordability.
    What if Canada allowed home mortgage amortization (for your primary residence) to be limited in length to end at your 65th birthday. For example a 27 year old person could have up to a 38 year amortization. Thoughts?

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