Oriana Wealth Management

It's not too late to check everything off your summer bucket list.

15 Fun Things to Do With Your Kids Before School Starts Its not too late to check everything off your summer bucket list.

Mortgage experts say the Bank of Canada will reduce the benchmark qualifying rate—a.k.a., “stress test rate”—from 4.94% to 4.79% this week.

Stress Test Rate to Fall to 4.79% - Mortgage Rates & Mortgage Broker News in Canada The stress test rate is about to fall for the second time in three months now that most of Canada's Big Six banks have reduced their 5-year fixed posted rates.

While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers. Give me a call to find out what great rates and products are available to you!

Mortgage Rates Keep Setting New Record Lows - Mortgage Rates & Mortgage Broker News in Canada While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers. Concerns over a second wave of COVID-19 have caused Canada’s 5-year bond yield to fa...

In cities where industry lends itself better to working from home, the recovery may be less difficult.

Housing market recovery will be uneven across the country: CMHC report | CBC News It's difficult to predict how long it will take for Canada's housing market to recover from COVID-19 crisis, but one thing is certain — the pain will be felt differently across the country, a new report from Canada Mortgage and Housing Corporation says.

Homebuyers excluded by these changes should look around for a lender that also works with Genworth or Canada Guaranty, the country’s two private-sector providers of mortgage default insurance. Those companies have decided not to tighten their restrictions.

How to get around Canada’s harsh new mortgage rules Come July 1, 2020, it will be a lot harder to get the feds to back your mortgage.

From hair salons to gyms, experts rank 36 activities by coronavirus risk level.

From hair salons to gyms, experts rank 36 activities by coronavirus risk level Which activities are riskiest for spreading COVID-19?

Genworth said in a statement the company doesn't plan to change any debt service ratio limits, minimum credit score and down payment requirements for homeowners looking to insure a mortgage with the firm.

Genworth says it has no plans to follow CMHC's mortgage tightening move - BNN Bloomberg Canadian private mortgage insurer Genworth MI Canada Inc. said Monday the company has no plans to tighten qualification rules for its borrowers, bucking a decision made last week by Canada Mortgage and Housing Corporation (CMHC).

The state-owned Canada Mortgage & Housing Corp., which offers default insurance to home buyers with low down payments, said it will narrow eligibility criteria as of July 1. Buyers will need higher credit scores and lower debt burdens to qualify.

CMHC draws fire for tightening mortgage rules - BNN Bloomberg As of July 1, homebuyers will need to have a higher credit score to qualify for default insurance, Canada Mortgage & Housing Corp. said Thursday in Ottawa.

Before making a final decision talk to a financial advisor; using credit rather than RRSP funds isn't a simple decision and there are always exceptions and other variables to consider.

OPINION | Take money out of your RRSPs or go into debt? The best options when facing a cash crunch | CBC News Mark Ting, CBC On the Coast's finance columnist, says if someone experiences a sudden loss of income pre-retirement and they drop into a low tax bracket, tapping into their RRSPs can make sense.

Buyers and sellers in the Toronto-area real estate market are starting to loosen up in May after lockdown measures surrounding the coronavirus pandemic brought sales to a standstill in March and April.

Buyers coming off the sidelines in Toronto housing market Advice for those thinking about rejoining the fray: ‘Get out as soon as you can’

Despite multiple headwinds and the continuous ravages of COVID-19, Canadian market activity and purchasing power will be able to recover quickly after the outbreak eases, according to outgoing Bank of Canada Governor Stephen Poloz.

Expect rapid post-pandemic recovery – BoC's Poloz The worst-case scenarios are "a little bit overblown," according to the central bank's outgoing governor

There are concrete actions you can take today to protect the ones you love and get some peace of mind. Here are four steps to consider:

There are concrete actions you can take today to protect the ones you love and get some peace of mind. Here are four steps to consider: lifehappens.org/blog/4-steps-you-can-take-to-feel-more-in-control-now/

Some good news: effective May 25, it’ll be slightly easier to qualify for a mortgage. The qualifying rate that is used in stress tests for both insured and uninsured mortgages has gone down to under 5% for the first time since January 2018. A lower rate means it's easier for borrowers to qualify.

Daily Digest Current data: exchange rates, money markets, interest rates, price indexes, etc.

Hoping will soften the market for you? Six experts weigh-in on post-pandemic conditions. Will they be first-time-buyer friendly? Here’s what they had to say.

Home sales are down 69% — is this a once-in-a-decade chance to get into Toronto’s housing market? The Star asked six experts if post-pandemic conditions will be first-time-buyer friendly, and whether a recovery will quickly shut down those opportun...

The third phase of CERB is about to start: Here's what you need to know.

The third phase of CERB is about to start: Here’s what you need to know Jamie Golombek: If you suspect you may soon be working again, you may want to think twice before deciding to reapply for another CERB payment

Life changes—and your life insurance needs do too. ⏰

If conditions improve quickly, the economic shock is likely to be "abrupt and deep but relatively short-lived" and followed by a strong rebound for most, but not all, sectors of the economy.

Bank of Canada keeps target rate at 'effective lower bound' The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, saying this morning that it is effectively as low as it can go to combat some of the economic impacts of COVID-19.

Easter was the beginning of hope for all. That hope continues to today and into the future. During this difficult time, I wish you an Easter holiday filled with plenty of family, friends, love, and laughter, but virtually of course. May you feel the hope of new beginnings, love and happiness during this joyful Easter holiday.

Stay safe!

Where flowers bloom, so does hope.

Bank of Nova Scotia announced late Friday that, effective April 1, it would reduce credit card interest rates for personal and small business customers to 10.99 per cent if those clients are facing COVID-19-related financial troubles and are getting their minimum payments deferred.

Canada’s big banks cut credit card rates to give relief to customers amid COVID-19 pandemic Bank of Nova Scotia, Toronto-Dominion Bank, Royal Bank of Canada, National Bank of Canada and Canadian Imperial Bank of Commerce have all cut rates

It’s expected the stimulus package will be worth about $25 billion -- equal to how much some economists estimate the coronavirus pandemic will cost the Canadian economy. It will put money into the hands of Canadians and their families, and help out the country’s hardest-hit sectors.

Major economic package coming, Trudeau mulls taking new emergency steps The federal government is set to present a major support package to both aid families and businesses, as well as stimulate the economy on Wednesday, expected to include measures to put money directly into Canadians' hands.

When it comes to RRSPs, there are few important questions to ask: In retirement, will the person likely be in a higher tax bracket than they are today, the same bracket, or a lower one? I call this the tax teeter-totter. Will their income likely be meaningfully higher or lower in the next five to ten years? How old are they? Are they married and, if so, how long will it likely be until both spouses have passed away?

Are RRSPs really worth it? The answer may surprise you Ted Rechtshaffen: With RSPs, there is a time to contribute, there is a time not to contribute and there is a time to withdraw funds — choose wisely

The federal government is changing the stress test rate for insured mortgages starting April 6.

Ottawa announces changes to mortgage stress test for insured mortgages The federal government said a new qualifying rate for borrowers will apply starting April 6.

Here are some strategies that sometimes give you that much needed quick score boost.

Five Tips to Increase Your Credit Score Quickly - Mortgage Rates & Mortgage Broker News in Canada In order to qualify for certain mortgage and loan products, a minimum credit score is essential. And even if your score is sufficient to qualify, you might find the rates being offered will be lower, the higher your score.

The posted rate is significant for the federal mortgage stress test, which is based on the posted rates at the big Canadian banks. The posted rate is also used for calculating mortgage penalties.

TD Bank lowers its posted five-year fixed mortgage rate - BNN Bloomberg The posted rate is still significant for the federal mortgage stress test, which is based on the posted rates at the big Canadian banks.

People who ask questions about topics such as paying down debt versus saving and investing tend to be good money managers who will end up doing fine, whatever decisions they make. If you're not sure, give me a call.

Pay down the mortgage, or set money aside for those inevitable homeowner emergencies? House prices in many cities across the country have soared over the past 10 years and the mortgages people are taking on have grown as well, even though interest rates have been exceptionally low. With big mortgages come increased anxiety about paying them off

Bank of Canada keeps key rate target on hold, trims growth expectations for 2020

Bank of Canada keeps key rate target on hold, trims growth expectations for 2020 | The Star OTTAWA - The Bank of Canada is expected to make its latest interest rate announcement this morning and update its economic outlook.

What life stage are you in? If someone depends on you financially, you probably need life insurance. These are points in your life that might trigger the need for life insurance.

Prime Minister Justin Trudeau has asked Finance Minister Bill Morneau to consider changes to the mortgage stress test that Canada’s real estate industry has criticized for being a drag on the housing market.

Finance minister Bill Morneau to ‘review and consider’ changes to mortgage stress test Also tasked with bringing in 1% housing vacancy and speculation tax

Millennials and new Canadians are forming households and their desire for home ownership is very strong. Interest rates are low. In this environment, home sales should thrive and supply should rise alongside demand, keeping prices in check. Instead, our housing supply is lagging and prices have risen dramatically in key markets.

The mortgage stress test is making housing supply issues worse — and making homes even more unaffordable Opinion: With a growing number of first-time homebuyers frozen out of the market by the stress test, many builders have cut back on building