"While Canadians may see their parents' retirement experience as a model for what to expect, the reality is that their retirement may not be the same, particularly if they are part of the sandwich generation with both aging parents and school age children," said Amalia Costa, head, Retirement Strategies, RBC. "Canadians know that juggling competing financial priorities creates enormous strain on both time and money. A financial advisor can make it easier to develop a retirement plan to balance your financial commitments and family life."

Saskatchewan, Alberta and BC to lead the way; Ontario to improve. Still no rate changes expected from Bank of Canada in 2013. BMO Hiring Outlook Report: hiring a top priority for business owners planning to invest more in 2013

The average rental apartment vacancy rate in Canada’s 35 major centres increased to 2.6 per cent in October 2012, from 2.2 per cent in October 2011, according to the fall Rental Market Survey released by Canada Mortgage and Housing Corporation (CMHC).

Since the most recent round of mortgage tightening came into effect in July 2012, there has been a drop in Canadian housing resale activity: between August and October, sales were 8 per cent lower than in the year prior to the announcement. Approximately 17 per cent of high ratio mortgages funded in 2010 could not have been funded today, including 11% of prospective high ratio home buyers who can’t qualify under the new 25 year amortization rule.

Toronto finishes in third place in Cities of Opportunity 2012, dropping one place from last year in the fifth edition of a global study by PwC of 27 centres of finance, commerce and culture. Toronto ranks ahead of global cities like Paris, Singapore and Hong Kong and Tokyo and impressively ranks in the top 5 in 6 out of the 10 indicators and about a third of the 60 variables measured in the study.

Real gross domestic product grew 0.2% in July, after edging up 0.1% in June. Goods production increased 0.2% in July, on the strength of manufacturing and utilities. In contrast, mining and oil and gas extraction as well as construction declined. The output of service industries rose 0.2% in July, mainly as a result of increases in retail and wholesale trade, the finance and insurance sector, and accommodation and food services. The public sector (education, health and public administration combined) was essentially unchanged in July.

The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for June 2012. There was a budgetary deficit of $1.1 billion in June 2012, compared to a deficit of $2.3 billion in June 2011. Revenues increased by $0.8 billion, or 4.2 per cent, largely reflecting increases in personal and corporate income tax revenues. Program expenses decreased by $0.2 billion, or 1.3 per cent, reflecting lower other program expenses, offset in part by higher transfer payments. Public debt charges decreased by $41 million, or 1.6 per cent.

It's not just longer days and high temperatures that peak during the Canadian summer, it's also when immigration numbers peak. July, August and September are the peak immigration months when permanent residents and foreign students go through the chaotic process of moving everything from home to family to finances to Canada. Scotiabank offers advice on how Canadian newcomers can make the financial part of their move both simpler and successful.

Calum Ross and Jared Dreyer on the Mortgage Rule changes.

OSFI released its final Underwriting Guidelines as a result of the B20 Discussion Paper. CAAMP was pleased that it was successful in ensuring no requalification at time of renewal.

Julie Isaac, VERICO Custom Mortgages, offers advice to consumers.

30 year Mortgage brokerage operation joins VERICO - #1 Mortgage Broker Network! VERICO Canada is pleased to welcome Bayfield Mortgage Professionals, based in Langley BC, to the VERICO network. The long time Mortgage Brokerage firm has been in operation for 30 years and is headed by Gord Wintrup, President and Inder Matharu, Vice President.

Matt Daniels and Christa Tessier are the latest business owners to join Canada’s #1 Mortgage Broker Network – VERICO!

With the Canadian housing market expected to cool in the coming year, the Bank of Montreal has lowered its five-year fixed mortgage rate to a record low. While the rate was slashed to 2.99 per cent Thursday, down half a point, it does come with a few hitches.

"Richmond mortgage broker Chris Pughe said just one of the lenders she deals with, AGF, is offering 2.99 for a five-year fixed mortgage, but several are close. 'There are some with a four-year at 2.99 and a lot of the lenders are at 3.19 or 3.29 right now [for five years]," Pughe said."

For the past number of years, John Ribalkin, owner of VERICO Nova in North Vancouver, and his family have spent up to 7 weekend prior to Christmas to create a 40,000 plus light display. All in an effort to fund raise for the Harvest Project, a great charity that helps people cope with difficult circumstances such as illness, job loss, addiction and mental health issues.