For the first time in years, car shoppers are having an easier time finding a deal as the auto industry bounces back from supply chain woes — and experts say the outlook could get even better. Sticker prices at dealerships have started to come down and affordability is improving, said Daniel Ross, senior manager of … Read more
Bank of America (BofA) analysts recently noted that the prolonged US housing affordability crisis won’t improve until at least 2026 due to rising property prices and short supply as homeowners stay locked in due to elevated mortgage rates. While the US housing market appeared to stabilise after years of muted activity due to the pandemic, … Read more
Mike and his wife were keen to support their daughter’s wedding plans. To avoid the usual disputes over marriage preparations, they found a simple solution—giving their daughter $20,000 so she could organise the wedding as she pleased. Mike had estimated in 2015 that wedding costs in the Kansas City, Missouri area would be between $15,000 … Read more
Retired high school teacher Anjali Teirra, aged 58, has lived in her three-bedroom house without homeowners insurance since 2019. She initially took out a policy for her home in the Tehachapi Mountains of southern California in late 2018, which cost her under $100 monthly in premiums. This was affordable and provided peace of mind, especially … Read more
George Soros is among the most successful investors in the world, popularly known as the man who broke the Bank of England. In 1992, he made a single-day profit of $1 billion from short-selling the British Pound. His philanthropic efforts saw him donate over $32 billion to charitable causes via the Open Society Foundations. Soros … Read more
Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely won’t last, according to Canada’s housing agency. Canadian mortgage debt totalled $2.16 trillion that month, up 3.4 per cent from the same period last year — a historically low … Read more
Canada’s banking regulator says real estate secured lending and mortgages are among the top risks the country’s financial system is facing, as higher interest rates pressure borrowers. In its annual risk outlook, the Office of the Superintendent of Financial Institutions )OSFI) said as homeowners renew their mortgages, they could potentially face a payment shock due to … Read more
The annual rate of housing starts in Canada fell slightly by one per cent compared with March 2024, while the number of residential home sales dropped in the same period of time, according to separate sets of numbers released today by the Canada Mortgage and Housing Corporation (CMHC) and the Canadian Real Estate Association. The CMHC, … Read more
Financial guru Dave Ramsey believes you can save $22,995 over 30 years by skipping coffee. Meanwhile, financial coach and author Ramit Sethi thinks skipping coffee isn’t how millionaires got there. Ramsey and Sethi have helped countless clients get out of debt, budget efficiently, and achieve life goals like buying a house or saving for retirement. … Read more
The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank’s governor, Tiff Macklem, told MPs Thursday. “We do see renewed downward momentum in underlying inflation. The message to Canadians is, we are getting closer. We are seeing what we need to … Read more
