Getting into the housing market these days can be daunting. So, this episode we’re answering all the questions you may have had about mortgages and real estate but were too afraid to ask. Our guest is Tracy Gomes, Senior Vice President of Real Estate Secured Lending at Scotiabank. Tracy will define some key terms, give us a primer on how to pick between a fixed and variable interest rate mortgage, how much you might expect to pay for a down payment and more.  Key moments this episode: 1:32 — What’s the big question or concern that Tracy hears the most from people looking to get into the market? 2:30 — What’s the first thing someone should be thinking about if they’re looking to buy a home for the first time? 4:12 — What do you need to qualify for a mortgage? 4:33 — The 4 Cs lenders are always looking at when processing a mortgage application 5:27 — What is the minimum down payment needed in Canada? 6:07 — Does the size of a down payment have an impact on the interest rate of a mortgage? 6:36 — Breaking down the different types of insurance when it comes to mortgages 8:34 — The role of ‘the bank of mom and dad’  9:18 — Is it possible to buy a home without a down payment? 9:25 — Options available for first-time buyers to save for a down payment 10:07 — What is a stress test? 11:35 — What other costs are associated with buying a house? 13:07 — How do real estate agents get paid? 13:46 — If you’re already in the market, should you sell before you buy or buy before you sell?  15:20 — Mortgages 101 17:10 — The most common mortgage question: what is the difference between fixed and variable rate mortgages? 19:45 — Some quick mortgage definitions: term and amortization 21:39 — How Scotiabank’s adjustable-rate mortgage works 22:37 — Recap of variable vs fixed rate 25:03 — Some tips on paying off a mortgage faster 27:40 — What’s the final thing Tracy thinks people should know about buying a home

The Liberal government has laid out its 2024 Federal Budget, with new spending focused on issues such as housing, defence, and childcare, with new tax measures to help offset the cost.  Rebekah Young, Scotiabank Economist and Head of Inclusion and Resilience Economics, joins us to break down the key takeaways Canadians need to know about the federal government’s spending plan, what is missing from the budget, and the impact it is likely to have on the broader economy and inflation. Read Rebekah’s full report: Canada’s 2024 Federal Budget.  Key moments this episode: 1:21 — A look at overall spending and key items 3:19 — Key buckets of spending important for Canadians 5:41 — Tax measures and other ways the federal government plans to pay for this new spending 8:23 — A primer on capital gains 10:24 — What impact these tax measures will have on productivity 11:56 — What's the economic impact of this budget, near term and long term? What does it mean for housing and inflation in Canada? 15:37 — The main thing Rebekah is taking away

Scotiabank's Chief Economist Jean-François Perrault discusses the Bank of Canada's recent decision to maintain interest rates, predictions for a possible rate cut in September, the impact of housing market on inflation, geopolitical risks, U.S. inflation numbers, low productivity risks, and the influence of the weak loonie. The podcast analyzes economic factors influencing rate decisions and government spending impact on the economy.

In this episode, co-founder and CEO of Willful Erin Bury joins us to give us a Wills 101 lesson. She’ll cover everything from what exactly a will is to when you should get one, some key definitions and much more.An earlier version of this episode said 57% of Canadians don't have a will, and that rises to 75% for younger Canadians. In fact, the poll showed that 43% of Canadians don't have a will, rising to 66% for younger people.Key moments this episode: 1:16 — Before we start, we have to ask Erin: what was it like being on Dragon’s Den? 2:50 — What is a will? 3:56 — The most common misconception about wills 5:46 — The personal experience that triggered Erin and her husband to start Willful 8:14 — Why the will is the ‘tip of the iceberg’ when it comes to estate planning 9:03 — When should people start thinking about getting a will? 10:43 — What is an estate? 11:57 — A little more about what inspired Willful 13:22 — What makes a will a legal will? 14:48 — What situations are out of the scope of Willful? 16:51 — What is a power of attorney? 19:06 — What is an executor? And what should you be thinking about when you choose one 22:01 — Why Willful is partnering up with Scotiabank 24:50 — The unexpected brand Erin has cultivated within her circle of friends 

Loud budgeting is just one of many money trends you may have seen in your social media feed lately. This episode we get a level-headed take on some of these fads with the help of Kingsley Chak, Senior Vice President of Deposits, Savings and Investments at Scotiabank. He’ll let us know which ones might work, which ones might not and why, as well as give some evergreen tips on getting a handle on your own finances.    Key moments this episode: 1:21 — How are Canadians feeling about their money right now? Discussing the results from Scotiabank’s Worry Poll 5:45 — Budgeting trend 1: loud budgeting 6:54 — How does bungee jumping help explain loud budgeting? 8:15 — Is loud budgeting a good thing? 8:49 — What is quiet luxury and how does it relate to loud budgeting? 9:50 — Budgeting trend 2: soft saving 11:38 — Budgeting trend 3: FIRE — financial independence, retire early 15:07 — Two tips to take away from the conversation 

Learn about the impact of increasing life expectancy on retirement savings and financial planning, challenges of saving money, the importance of a financial plan, and the potential changes in traditional retirement strategies due to longevity. Gain insights on asset allocation, risk management, and navigating retirement finances in volatile markets.

The Bank of Canada held rates steady, again, for the fifth consecutive time to no one’s surprise (but disappointing perhaps for homeowners and others anxiously awaiting a cut).  Its latest decision came even though the latest data from January shows inflation in Canada is slowing and is within the central bank’s target range of 1% to 3%, but not quite at its target of 2%. Still, Governor Tiff Macklem said that while it’s clear the central bank’s previous moves are working, it’s too early to cut the benchmark rate.  Scotiabank’s Chief Economist Jean-François Perrault is back to break down the latest decision, what the Bank of Canada needs to see in order to start cutting rates and when a rate cut is likely at this point.  Key moments this episode: 00:56 — What have we learned from this latest announcement?  1:43 — What numbers fed into this rate decision? 3:08 — Why has it been so hard to get to that Bank of Canada inflation target? 4:50 — If shelter costs are the most stubborn part of inflation, how much can the Bank of Canada move the needle? 7:12 — Breaking down the conundrum around how inflation and shelter costs are related 8:26 — What other risks could drive up inflation? 10:05 — When might we see rate cuts? 12:05 — What would need to happen for the Bank of Canada to begin interest rate cuts? 13:24 — How does government spending factor into the Bank of Canada’s upcoming decisions? 15:46 — It’s been about two years since the Bank of Canada began hiking rates. What have we learned since then? 17:16 — The two things Canadians need to know after the decision today 

Chief Investment Officer Andy Nasr discusses the economy, interest rates, inflation, and geopolitical events affecting stock markets. Highlights include predictions for GDP, impact of interest rates on markets, and analysis of U.S. vs Canadian market growth. The episode also explores the effects of geopolitical issues, upcoming U.S. election, and CUSMA renegotiation on economies and investments.

Join the conversation between Janice Holzscherer and Cherilyn Jolly-Nagel on challenges faced by women in farming. They discuss the history of Cherilyn's farm, the importance of diverse perspectives, and the need for farmers to share their stories. Cherilyn shares her journey from reluctance to advocacy and the misconceptions around 'women in agriculture'.

Imagine it’s late one night and you’re awoken by a call. It’s a panicked loved one telling you they’ve been in an accident and need money right away. Except it’s not actually a loved one, it’s a fraudster using AI to perfectly mimic their voice. That’s just one example of the latest in advanced schemes being employed these days to trick you into parting with your money. Tammy McKinnon, Senior Vice President of Fraud Management at Scotiabank is our guest this episode to walk us through some emerging scams, tell us some potential red flags to watch for and some simple ways for you or someone in your family to avoid becoming a victim.   For more fraud prevention resources, check out Scotiabank’s Cybersecurity and Fraud Hub.  Key moments this episode: 1:44 — What stats tell us about whether fraud is getting worse 2:21 — The stigma associated with being scammed, why anyone can be a victim 4:00 — Emerging scam #1: the shocking way AI is being used to swindle people 8:21 — Emerging scam #2: cryptocurrency scams 9:21 — Why fraudsters are willing to put in more time for scams 9:38 — What is a romance scam? 10:21 — Do we know where these scams are originating from? 10:52 — Emerging scam #3: impersonation scams 12:16 — Some ways to tell if a call from a bank is legitimate or not 13:29 — Some simple precautions to avoid these increasingly sophisticated scams 16:07 — A bit about how Tammy prevents fraud at the bank 17:12 — The one thing listeners should take away from the interview 17:40 — How to tell the real Stephen from his voice clone