The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
When mortgages attack
The Canadian Mortgage Trends blog reports that a majority of people who take out a long-term mortgage will made adjustments to it at some point. In many cases, that means they’ll have to pay a potentially expensive mortgage penalty.
Here, CMT reports on the online calculators the banks have been introducing to show customers what penalty they would have to pay if they broke their mortgages.
Canada’s bigtime borrowers
This “world debt guide” from The Economist shows we Canadians play in the big leagues when it comes to household debt. On other kinds of debt, we’re more mid-pack.