Tagged Questions
2
votes
5answers
219 views
Whether to prepay mortgage or invest in stocks
If at the end of the year, I have 10k in hand that I want to save/invest and these are my options:
1.Prepay into mortgage. Rate is 2.1%
2.Invest in stocks and I know I can get at least 7 % return.
...
2
votes
1answer
73 views
Why do short-term term deposits and GICs pay more than longer ones?
ING Direct is currently offering 2.5% interest for a 90-day GIC, 1% for 180 days, and 1.5% for 270 days.
What would be the advantage of locking my money in for longer if I'm just going to get paid ...
10
votes
5answers
387 views
What are the advantages of paying off a mortgage quickly?
What are the advantages of paying off the mortgage quickly??
Sure, not paying interest and truly owning your house is great, but then the money is tied in a fixed asset, and if you want to get at ...
1
vote
2answers
235 views
Does the interest rate on a savings account always fluctuate? What about for a TFSA?
When we say 'Savings Account', does it automatically mean that the interest rate can go up and down? So by that definition, the interest rate on TFSA can go up and down any time?
1
vote
1answer
156 views
Compounding difference between these TFSA Savings Account & TFSA GIC interest rates?
From the brochure of my bank, here is an excerpt:
Interest on the TFSA Savings Account is calculated daily and paid monthly.
Interest on TFSA GICs is compounded annually and paid at the end of ...
3
votes
1answer
86 views
What kind of information can I use when trying to convince my bank to lower the interest rate on my line of credit?
I'm looking to lower the interest rate on my line of credit, and, before calling up my bank, I am wondering what kind of information I should have prepared that I can use as arguments when trying to ...
8
votes
4answers
315 views
Can I take advantage of lower interest rates while I'm stuck in a fixed-rate mortgage?
Interest rates across Canada are gradually creeping up, but they're still incredibly low compared to when I started my 5.79% fixed rate mortgage a few years ago. Several lenders still seem to be ...
4
votes
1answer
115 views
With interest rates beginning to ascend, is it better to lock in a mortgage at fixed rate or opt for variable rate?
With the interest rates beginning to ascend, is it better to lock the house mortgage at a fixed rate or to opt for a variable rate mortgage? Thanks in advance for the sage advice that is shared here.
4
votes
3answers
1k views
Can I charge interest on money that I have lent out, even though I am not a financial institution?
On the news a couple of years ago, in BC, they said that if you are NOT an financial institution, it was illegal to charge interest on any money that you have lent out. Now I live in Alberta. And ...
