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Best ever welcome bonus for the WestJet RBC World Elite Mastercard - 450 WestJet dollars with $5,000 spend in 3 months + MORE Nov 13th
We said the market would heat up in Canada when the new Air Canada Aeroplan program launches and for the most part that has now been the case for a few months. We've already seen the amazing offer for the HSBC World Elite Mastercard that came out in September, the statement credit boost on the MBNA .... More »
Fed consumer credit report: Card balances rise 5.7 percent + MORE Sep 8th
The national revolving debt balance rose 5.7 percent to $914.6 billion in July, the Federal Reserve said Tuesday.... More »
Growing popularity of home equity lines of credit spurs debt warnings + MORE May 11th
Outstanding balances on lines of credit soared to $266-billion in March, 2015, from $100-billion in 2005 and just $35-billion in 2000, according to Statistics Canada
.... More »
AIR MILES adding card linked offers for Dollarama + MORE Jul 12th
AIR MILES has announced a new nationwide partnership with Dollarama where select members will be able to earn miles on for their purchases at the discount retailer. However, it is not exactly the type partnership many collectors would hope for. The ability to earn miles at Dollarama is simply bein.... More »
Closing a business card while preserving your credit score + MORE Sep 22nd
Closing a business credit card may hurt your personal credit score as much as closing a personal card..... More »
Canceled cards boost debt utilization ratio
– creditcards.com
When you cut several cards from your wallet, you can reduce a big credit score hit by increasing the credit limits on your remaining cards
Obama's Visa Double Game
– online.wsj.com
Siding with unions instead of workers trying to follow the law.Higher mortgage insurance premiums could hurt first-time buyers
– moneysense.ca
(Getty Images/Tom Merton)TORONTO – Some realtors and economists say higher mortgage insurance premiums introduced recently by Genworth Canada and CMHC could cause first-time homebuyers to delay their purchases.
“It’s certainly going to bite into first-time, low-equity homebuyer sales,” said Helmut Pastrick, chief economist with Central 1 Credit Union.
“I don’t expect a major impact on housing sales activity as a result of this change, but at the margin, it will slow first-time buyer sales to some extent.”
Canada Mortgage and Housing Corp. announced last week that insurance premiums for buyers who have a downpayment of 10 per cent or less will go up by 15 per cent starting June 1. Genworth matched the move on Monday with an identical increase.
Canada Guaranty, the third mortgage insurance provider in the country, has yet to announce a boost to its premiums.
Both CMHC and Genworth said they don’t expect the changes to have any significant impacts on housing demand.
But Ron Hollet, a Halifax-based broker with Re/Max Nova, says he expects the changes will force a number of first-time buyers out of the market…
