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Foreign investors help keep Canadian mortgage rates low
Enjoying low mortgage rates? You can give a big thanks to foreign investors.
Foreign investors snatched up $8.5-billion worth of Canadian bonds in the second quarter, bringing the total of bonds bought by foreigners in the past year to $25-billion, data from Statistics Canada Monday showed. Foreign investors now hold a record $137-billion worth of Canadian bonds.
But it is not just the Government of Canada benefiting from the stream of investors willing to lend it money.
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Many Canadians Living Paycheque to Paycheque
Although many Canadians would dearly love to enjoy their 'golden years', a new poll suggests that that may be more of a dream than reality.
According to the Canadian Payroll Association (CPA)," 40% of Canadians said they now expect to retire later than they previously planned. The primary reason (cited by 40%) was "I'm not saving enough money for retirement." "
Considering this data, this is perhaps a bit of a wake-up call for those who are self-employed as well, given the demographic shift in this country- and the knowledge that Federal Pension programs will not be enough to support some down the road through retirement.
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Contact Me
 
Michelle Brienza
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Phone: (416) 410-5761
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So much news came out in September! There was some good news, such as interest rates remaining "relatively" low for awhile. As a result, banks are cashing in by giving reduced discounts on variable rates. Call me for a lower variable rate quote.
