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Fixed mortgage rates will likely fall in the coming week. Bond yields are down as a result of weak GDP numbers for April at 0.00% growth. (That’s right ~ the economy was stagnant in April.) The USA is in the same shape, with a lagging economy and uncertain outlook on the horizon. This leads the way for the Bank of Canada to leave its overnight lending rate at its current level, which is great news for variable rate mortgage holders. It is highly likely that we will see rates remain ...
The "Smith-Manoeuvre" isn't a new concept, but a guy named Fraser Smith wrote a book about using your mortgage as a financial tool to build net worth as opposed to just using it as a loan when buying a house. The Smith Manoeuvre has also been called Equity Repositioning, Leveraged investing and Borrowing to Invest. Whatever name you use, this strategy can yield results that are hard to ignore. First a few assumptions: Household income of $100,000, a Marginal Tax Rate of 32%, $100 ...
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