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Binnacle Financial

Blog Posts

Fixed mortgage rates are on the decline. Is now the time to lock in?

Fixed mortgage rates have been steadily decreasing in recent months, leaving many homeowners wondering if now is the opportune moment to secure a mortgage. With interest rates hitting record lows, it's crucial to evaluate whether locking in a fixed rate is the right move. In this blog post, we will delve into the current state of fixed mortgage rates, explore the factors influencing their decline, and provide insights to help you make an informed decision about your mortgage options.

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Estate Planning Tips for Canadian Blended Families

The blending of families involves some important discussions when it comes to estate planning – clarity and understanding as to what the final wishes and distribution is to look like requires some professional help.

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When to start collecting your CPP and OAS benefits

The question as to when to trigger payments from government pension is a commonly asked and there are various answers depending on your financial situation. It is good financial planning to request an updated statement from CRA at least a few years before aged 60 so you have a gauge as to where you are to the maximum. Have a read and let’s discuss what makes sense for you.

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Estate planning starts with the 5 Ds

We often hear the phrase “you can’t take it with you” – what does that really mean? A great book written by Sandra Foster outlines steps to effective estate planning titled “You can’t take it with you” – strongly recommend – this article highlights the first two “D’s” to get you thinking.

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May 2023 market update

Inflation ticks higher in Canada Rising mortgage and transportation costs are driving Canada’s inflation rate higher. Inflation reached 4.4% in April, missing the 4.1% figure economists expected. Meanwhile, the U.S. Federal Reserve Board (Fed) raised the target range of its federal funds rate by 25 basis points, from 5.00 to 5.25%. After 10 consecutive increases, the Fed has suggested it may soon consider a pause. An impasse over the U.S. debt ceiling weighed heavily on financial markets over the month, as U.S. lawmakers struggled to come to an agreement. The months-long stalemate highlighted the risks that a default could push the economy into a recession. Read the full market commentary on canadalifeinvest.ca, including the following topics: *Canadian inflation accelerates *The Fed considers a pause *The U.S. debt ceiling disagreement weighed on sentiment *Global manufacturing activity weakens

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2023 Federal budget analysis

The federal government released the 2023 Federal Budget on March 28. Our experts have reviewed the newly released proposals to provide you with insightful analysis and commentary on the changes that could affect you, your clients or your business.

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