Become a Tangerine client today

Random Thoughts: Mortgage Rules Change

in Random Thoughts

Mortgage Rules Get Tighter

While the Bank of Canada kept interest rates lower this week, the Government decided to tackle the problem of the ever increasing consumer debt, by tightening regulations on Mortgages and home equity line of credit. As you can read in a few of the following posts, I think the Government got it a little wrong, since the issue of increasing debt load is not really being carried in Home Equity Credit lines, it is being carried on Credit Cards, yet there are no new rules to regulate those, or Pay Day Loan companies either. Good idea, but wrong target in my opinion.

Keeping interest rates low will protect those with a high degree of debt already, but it may also cause others to grow debt seeing how cheap borrowing is right now (and with RRSP season coming, you bet the big thing will be RRSP loans).

This week for me, was an eclectic set of posts including:

  • Blue Monday which for Montreal Expos fans is a term of derision about a ball player, but in this instance is a made up date which is allegedly the most depressing day of the year.
  • As I mentioned the Bank of Canada Kept Rates the same and had some interesting commentary about the fragility of the Canadian economic recovery.
  • Is possible to conceive of Financial Hoarding? I think it’s possible, since it is mostly an attempt to gain control of a part of your life (but not in a good way).
  • What is the Value of a Day Off? asks do you take the money, or the days off? I am taking the days off now, I enjoy days off too much now.

In the Blogosphere

A fair amount of discussion about the new Mortgage rules this week by our featured bloggers and some other interesting ideas brought forward as well:

Other Bookkeeping

Remember my RSS feed is available too, for those who enjoy reading without looking at my archaic page lay out, and I have added an RSS Comment Feed as well.

Have a look at my micro-blog on Twitter, where you can see a whole plethora of good articles and pithy comments by me as well. Twitter feed where I re-tweet many great articles by some of my featured writers (and make the occasional odd or off colour commentary on life (in 140 characters or less)). I am also on Digg as Big Cajun Man, on reddit and other Social Media sites (look for the BigCajunMan userid) as well. Check out my new buttons on top to easily add me as a Friend.

If you have social media accounts, don’t forget to vote for my posts (see the nifty dashboard on the side of each article, where you can cast your votes). As they say in Quebec, vote early and vote often!

This site is iPhone Friendly (and Android , iPod Touch and iPad Friendly), enjoy it on the go, in a readable format for the device. If you are reading with an iPhone or Android device, drop me a comment and tell me if this needs any improvements. This site is also in the Kindle US Blog list, if you are interested, not available in Canada yet (because no Blogs are available in Canada on a Kindle?!?).


“The safe way to double your money is to fold it over once and put it in your pocket.”

Author: Frank Hubbard

How do I do that with a Loonie?!?


  • sandy @ yesiamcheap January 21, 2011, 6:22 PM

    Three girls? Man, you are so outnumbered. Wow. Is there a boy tossed in there? You have to balance out the estrogen somehow. I hope they let you have some email bonding at least once a week outside of the house…Otherwise you end up looking like Bruce Jenner in the Kardashian house.

    On the serious side, the pay inequity issue is one that I am fighting because I experience it as well. It is hard to fight against what you have been taught about being a “good girl” and not making waves while trying to get paid fairly in comparison to men. Instill that confidence in your daughters in the generation after me hopefully will catch up to the men.

  • Canadian Capitalist January 21, 2011, 11:43 AM

    Thanks for the mention! Have a great weekend!

  • Echo January 21, 2011, 9:32 AM

    Thanks for the mention BCM, have a great weekend – enjoy those days off!

  • Michael James January 21, 2011, 9:02 AM

    On the subject of pay equity, I suspect that those who devote themselves totally to their careers will always get paid more (on average) than those who strike a different work-life balance. I know that I could certainly have been paid much more if I had ignored my family more and had worked harder. I don’t regret my choice, but that doesn’t change the consequence that I have less money as a result. As long as more men than women sink their entire lives into their careers, I suspect that women will be paid less on average.

  • Sustainable PF January 21, 2011, 8:31 AM

    Thanks for the mention BCM. The Paperless Billing post was from a new friend, Broke Professional, who lives south of the border. It is very interesting how each country approaches some of these “green” initiatives.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: