Welcome to the Globe and Mail Personal Finance Reader. I’m Rob Carrick, personal finance columnist at The Globe, and each week I compile a list of articles, blog postings and websites that represent the best of what the online world has to offer on money-related subjects.
I try assiduously in my job to avoid forecasting rates or anything like that, but I’m going to make a one-time exception right here. Mortgage rates are going up, my friends. Yup, mortgage rates rose sharply this week. But there’s more coming in the next 24 months or so, and now’s the time to prepare. Accordingly, this edition of the Reader has lots of commentary on mortgages. If you’re not buying a home or renewing a mortgage, forward this e-mail to someone who is.
Interested in income trusts? Then read on to find out what’s ahead next year when a new trust tax kicks in. Also look out for some sobering analysis of just how wonderful our banks and economy are, some tips on budgeting and a look at some green automobiles that will soon be available.
Found something on the Internet that your fellow investors might enjoy? Talk to me at rcarrick@globeandmail.com
From The Globe and Mail and Globe Investor
Need motivation to meet the April 30th tax deadline? How about late fees and interest charges. Angela Self explains how procrastination can come with a hefty price tag
Tax savings on losses from home business aren't forever The taxman is not fond of taxpayers reporting losses from their activities year after year, says Tim Cestnick
Paying more tax than you should? Accountant Robin Taub highlights ways to keep more from the taxman in our Let's Talk Investing series
For more tax stories, check out our tax site: Tax Centre 2010
Sticking to beauty on a budget Personal finance blogger Chaya Cooperberg's tips for saving money on make-up
Let's get the ethics clear here Adviser or sales agent? Can you imagine that we are actually having this debate, asks Rob Carrick
Must Reads From Around the Web
Mortgage Musings
The big banks are raising mortgage rates, but Bank of Montreal says its offer of a 3.75-per-cent rate for a five-year mortgage is still on the table for clients willing to take a maximum 25-year amortization. Five years at 3.75 per cent is a super deal by historical standards.
Tips from the Canadian Mortgage Trends blog on what to make of rising mortgage rates.
Debt guru Gail Vax-Oxlade offers her take on what’s going on with mortgage rates right now.
Here’s something I wrote this week on what will happen to variable-rate mortgages when the prime rate at major banks starts to rise. Buckle up.
Warning on Housing
This analysis says there are two more good months left for the housing market, and then “the game will be over.” It notes that after the 1987 stock market crash, people turned to real estate for something more stable and less risky. Sound a lot like what we’ve seen since the ’08 crash. The bad news is that in 1989, the real estate market fell into a long decline.
There Goes Our Halo
We’ve heard a lot in the past year or two about how financially strong our banks are compared to many of their global competitors, and about how our economy is showing resilience in the face of a global recession. Now for the backlash. First, an analysis that says our banks are no example to the world.
Second, an alarming look at how Ontario’s financial problems compare to California, which itself is seen by some as having worse issues with debt than Greece.
