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Speaking after meeting with constituents in Toronto who want to buy a home, Freeland said the First Home Savings Account is just one tool to help people get into the market.THIS CONTENT IS RESERVED FOR SUBSCRIBERSExclusive articles by Conrad Black, Barbara Kay, Rex Murphy and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
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Freeland proposes First Home Savings Account to help Canadians enter the housing marketSpeaking after meeting with constituents in Toronto who want to buy a home, Freeland suggests the First Home Savings Account as a tool to assist people in entering the market. Subscribe now to read the latest news in your city and across Canada.
Source: calgaryherald - 🏆 64. / 52 Read more »
Freeland proposes First Home Savings Account to help people enter the housing marketSpeaking after meeting with constituents in Toronto who want to buy a home, Freeland said the First Home Savings Account is just one tool to help people get into the market.
Source: nationalpost - 🏆 10. / 80 Read more »
Canada's First Home Savings Account Provides Some Help for HomebuyersThe tax-free First Home Savings Account, launched in April, is one tool to assist people in entering the housing market. While it may not solve all their problems, it offers a bit of assistance. Several financial institutions, including Questrade Inc. and Wealthsimple, have made the account available to Canadians. RBC reports that tens of thousands of accounts have been opened since April, with a significant number already reaching the maximum annual contribution. Critics argue that the account may increase demand and home prices without improving affordability.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Canadian Spending Habits Showing Early Signs of Slowing, RBC Report FindsA recent report by RBC reveals that Canadian spending habits are starting to slow down, making it challenging to find the right investments for a First Home Savings Account (FHSA). Young Canadians are increasingly turning to FHSA, while experts suggest that spending on fun is difficult but not impossible. Additionally, a majority of parents express concerns about their children's financial future. The Bank of Canada aims to provide growth and security to retirement portfolios. Other topics covered include budgeting methods, minimum wage increase, debt and savings worries, and the end of the MyMoney loan program by Canada Post and TD. Government benefits have helped lower-income households cope with the rising cost of living, and CPA Canada reports disagreements over governance leading to the severing of ties with provincial organizations. Furthermore, an expert predicts that fixed-rate mortgage borrowers won't be affected by interest rate shocks until 2025. The article also discusses the factors to consider when deciding whether trip cancellation insurance is worth the cost and suggests that interest rates may decrease during an economic slowdown. Lastly, the piece highlights eight costly misunderstandings about tax-free savings accounts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »