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Effectively managing your spending is a key component of financial well-being. It can help you stick to your budget, meet your money goals and experience a sense of stability around your finances. Read on for the six top reasons why you should consider adding a prepaid cash back card to your wallet..... More »
Making sense of the markets this week: June 2, 2024 + MORE May 31st
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
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When you’re in the midst of a long and bitterly cold Canadian winter, it’s not a stretch to imagine yourself in any number of difficult, weather-related circumstances. Stranded on a dark highway in a snowstorm, a dead battery while you’re out shopping miles from home – both are distinct .... More »
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Meridian Gets Competitive; Posts Lowest Two-Year Fixed Mortgage Rate on the Market
– ratesupermarket.ca
Meridian is making news as of late, as it recently posted the lowest two-year fixed-interest rate in recent Canadian history, compared to the “Big Five” banks and other lenders on the market. As Ontario’s largest credit union, Meridian is offering a two-year fixed mortgage at 1.98 percent.
This competitive rate may be good news for potential home owners in Ontario. Buying a home has become increasingly difficult across the country in recent years, especially in city centres like the Greater Toronto Area and Metro Vancouver, due to rising interest rates and the mortgage stress test cutting into affordability.
“The reality is that it is next to impossible for many young people to get into the housing market in Ontario today,” said Dayna Whitney, Associate Vice President, Retail, Meridian, in a press release. “We believe this is an extremely competitive rate and it represents an exceptional opportunity to save – particularly for first-time homebuyers.”
The new rate is available to Ontarians who are:
looking to own a primary property up to a maximum purchase price of $1 million with an outstanding mortgage balance (after down payment) of $799,000 or less…
