Some drivers who purchased vehicles during the past few years—when used and new car prices were unusually high—are discovering they owe more on their car loans than the vehicles are currently worth. Resource highlight LoanFinder: get matched with loan options In under 60 seconds, you can identify loan providers that may match your needs and … Read more

As cryptocurrencies gain wider acceptance, many investors are looking beyond bitcoin and ether to diversify their holdings. While those two coins still dominate the roughly $2.36-trillion global crypto market (figures in U.S. dollars), they have at times moved closely with stock markets. That correlation has encouraged some investors to explore altcoins like SOL as potential … Read more

Do you know how much it costs to trade cryptocurrencies, or how much you pay to deposit or withdraw funds from your crypto account? Fees are easy to overlook when you’re eager to start trading, but they are a guaranteed expense. Reducing fees can directly increase your net returns, so it pays to understand where … Read more

Ask MoneySense I am wondering what the best way is to manage this work situation. Do I operate as an employee or contractor? Do I set up a limited company? What are the tax requirements and how do I prepare and manage that? —Elza Many Canadians ask whether it’s better to work as an employee … Read more

What does it take to buy a second home in Canada? From assessing whether you can afford another property to understanding down payment and mortgage rules, there are several important factors to consider. This guide answers the most common questions and outlines the key steps so you can decide whether buying a second home is … Read more

Canadians choose to buy a second property for many reasons. Some seek the rental income and long-term returns that an investment property can provide. Others want to secure affordable housing for a child attending post-secondary school. Many simply want a weekend retreat—a country house, a cottage or a lakeside getaway. Whatever the motivation, multiple-property ownership … Read more

Buying a second property in Canada requires you to meet the country’s down payment rules—just like first-time buyers. The exact minimum you’ll need depends on several factors, including the purchase price, how many units the property has, and whether you plan to live in the property or rent it out. Down payment requirements in Canada … Read more

Whether you want a cottage, a vacation home, or an investment property, tapping your home’s equity can be an effective way to finance a second residence. “Many prospective buyers don’t have the liquid cash required to buy a second home outright,” says Maxine Crawford, a mortgage broker with Premiere Mortgage Centre in Toronto. “They may … Read more

Can you do something once and then do it again as if it were your “first time”? When it comes to buying a home in Canada, the answer can sometimes be yes. Several federal, provincial and municipal programs are aimed at first-time buyers, including the Home Buyers’ Plan (HBP) and the first home savings account … Read more

Canada’s annual inflation rate, measured by the Consumer Price Index (CPI), fell to 1.6% in September from 2.0% in August — the first time since February 2021 that Canada’s inflation rate has dipped below the Bank of Canada’s 2% target. A large part of the slowdown came from lower gasoline prices, which were down nearly … Read more