How To Cope With Rate Hikes: The PMG’s Advice

How To Cope With Rate Hikes: The PMG’s Advice

With inflation numbers coming in higher than expected fuelled by a number of factors including supply pressures, lockdowns in China and even the war in Ukraine, the BoC has committed to increasing their rate very aggressively until they have achieved their “neutral rate”. The neutral rate is defined as: “the policy rate that will allow the economy to operate at its full potential while keeping inflation at or near the Bank’s 2% target.” This number is typically in the 2% – 3% range. For variable rate holders, this could mean another 1.50% increase over the next year. So, although the pace of increases has accelerated, we are sticking to our advice from the...

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The Mortgage-Free Myth

The Mortgage-Free Myth

Planning a Happy Retirement – for young people starting out. The Mortgage-Free Myth All too often people make a major mistake early on in their lives that will sorely affect their retirement years later. They try to pay out their mortgage as fast as they can...
The PMG Podcast

The PMG Podcast

DEBT SERVICING How much debt is okay? More importantly, how much should I spend each month on paying back my debts? The answer to that question is the key to a healthy financial life. If you spend all of your income on paying off debts, you might not save enough (or...

Keeping ahead of COVID-19

In the interest of helping to slow the spread of Covid 19 the PMG has decided to close the office to the public. We are still fully operational but will not be seeing clients in person. Thank you for your understanding and please take care of yourselves.