By R&D Financial

RESP could be a child’s lifeline to a decent education as costs climb

RDFS - RESP and education savings

With this new world of pandemic schooling, the challenges of online vs. a safe COVID-19 learning environment make it hard to imagine what post-secondary school education will look like in the coming decade. But one thing that is almost certain is that the costs associate with education will continue to rise.

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By R&D Financial

Don’t Let These Unexpected Closing Costs Catch You Off Guard

As a first-time homebuyer, you are probably on a tight budget; you need to make every dollar count. Yet many report confusion when told how much money to bring to their lawyer’s office to complete their home purchase; it’s often thousands more than they planned for. Why does this happen and how can you better prepare yourself?

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By R&D Financial

OSFI Changes Rules for Mortgage Deferrals

OSFI, Canada’s banking regulator, announced that it will begin to phase out special regulatory capital treatment of deferrals given improving economic conditions.

These changes are effective immediately for mortgage payment deferrals granted by the Big 6 banks through to the end of September. Those deferrals will now only receive special capital treatment for up to three months as opposed to six. After September 30, any deferrals will be treated according to OSFI’s normal rules.

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