Changes to Canada’s CMB program could have unintended consequences, experts say + MORE May 31st
As expected, rates are beginning to fall + MORE Jul 17th
Unsure about buying a home? Why you should open an FHSA now anyway Dec 12th
New mortgage changes for 2024: Wider access to 30-year mortgages and more + MORE Sep 19th
Prime rate falls to 6.70%, making variable rate mortgages more attractive + MORE Jul 26th
How to improve your credit score
– moneysense.ca
Moving out on your own, financing a car or landing your dream job—all of this can require having a good credit score. Your credit score indicates how trustworthy you are in the eyes of creditors, and it can range from a low of 300 to a high of 900.
A good credit score (typically in the high-600 to mid-700 range) can help you qualify for a car loan, mortgage or insurance. It can help you get the best interest rates from your lender. At times, a landlord or employer may even ask to see your credit score before accepting you as a tenant or offering you a job. For that reason, it’s important to know how credit scores work, was well as how to build or improve your own score.
Factors that impact your credit score
Young adults tend to have lower credit scores on average than older Canadians. At the time of a 2018 study by Equifax Canada, Canadians aged 18 to 25 had an average score of 692. That was lower than all other age groups—including 26-to-35-year-olds, whose average score was 697…
CIBC’s Tal: “This is not a meltdown,” but expect short-term pain
– canadianmortgagetrends.com
Fixed mortgage rates expected to rise next week
– canadianmortgagetrends.com
