Oaken Blog

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Bank of Canada to announce interest rate decision April 24

The next Bank of Canada Policy Interest Rate decision is April 24, 2019.
April 22, 2019

Recent employment and economic progress reports suggest that the strong growth recorded by the Canadian economy during much of 2018 could be slowing. With the Bank of Canada poised to release its next interest rate decision later in the week, these details will likely enter into the Bank’s thinking when it announces its interest update … read more

How the Bank of Canada manages interest rates

April 4, 2019

Bank of Canada interest rate announcements always attract significant media and public attention. That’s because interest rates have an impact on all Canadians. If you’re a saver, the prevailing interest rate affects how much your savings earn. If you’re planning to borrow to finance a large purchase, such as a new home or vehicle, the … read more

Incentives for first-time home buyers in the 2019 federal budget

March 28, 2019

With just a few months to go before the next federal election, the 2019 budget is the government’s last opportunity to table new programs and incentives before Canadians go to the polls. Finance Minister Bill Morneau used the budget to announce a host of updates the government hopes will be popular with voters. These include … read more

8 essential apps for active seniors

November 15, 2018

Today’s seniors are putting to rest the myth that “you can’t teach an old dog new tricks”. While the use of handheld devices may be near-universal with younger generations, many seniors are also enthusiastically embracing the digital age, and are no less excited about the benefits of modern technology. The high level of digital device … read more

The benefits of medical cannabis

October 16, 2018

With the passing of the Cannabis Act (C-45) earlier this year, Canada now joins Uruguay as only the second country in the world to allow its citizens to use recreational cannabis. For the activists who have been pushing for this change, this has been a long time in the making, and comes at a time … read more

What you need to know about mortgage closing costs

August 21, 2018

When purchasing a new home, the final expenses incurred by the buyer to complete the transfer of ownership are referred to as closing costs. While total closing costs vary by region, many are common across all markets. Mortgage lenders require new buyers to demonstrate their capacity to manage these expenses when assessing overall ability to … read more

5 common mistakes that can lower your credit score

July 18, 2018

Everyone knows that in order to maintain a good credit score, you must pay your bills on time. Likewise, most people know that you need to have a good credit score to be approved for loans and other forms of credit. But did you know that with a better credit score, you can often qualify for … read more

Giving while living: a new approach to transferring wealth

June 20, 2018

There are many things to consider when planning the transfer of wealth within families. And while Canada doesn’t have an inheritance tax, there are still other fees and taxes that could substantially reduce the value of your estate. One option available to minimize these costs is to “gift” a portion of the assets you intend … read more

Technology that travels with you

May 14, 2018

It goes without saying that technology has had a tremendous impact on the way we live our lives. Many of the everyday things we now take for granted were considered to be nothing more than fanciful flights of science fiction just a few decades ago. Travel has certainly seen its share of technological advances, and we’ll … read more

Down payment rules for Canadian home buyers

April 23, 2018

Down payments were introduced to provide stability to the mortgage market, and are a mandatory for all mortgages in Canada. In this Oaken Blog post, we’ll take a look at what you need to know about down payments when purchasing a new home. We’ll also review how the minimum down payment is calculated, as well … read more