Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Canadian Credit Card Companies Are Offering Relief to Customers Affected by COVID-19 + MORE Mar 24th
Early last week, the government announced a myriad of relief efforts, including immediate plans to extend the 2019 tax deadline for individuals to June 1, 2020. Following suit, major cities, including Toronto, granted extensions to grace periods for utility bill payments and launched measures for f.... More »
What to do when your mortgage renewal is declined + MORE Aug 27th
If you have a mortgage, you probably know that you need to renew it every so often—typically every two to five years depending on the term you choose—until you pay it off. What you might not realize, however, is that your lender is under no obligation to renew that mortgage contract when your te.... More »
What the Bank of Canada Rate Increase to 1.5% Means for Canadian Home Owners and Home Buyers + MORE Jul 16th
From personal loans to mortgages, simply put, it’s now more expensive and more difficult for Canadians to borrow money.
At the beginning of 2018, new mortgage rules raised the bar for qualification. Under federal law, all financial institutions are now required to put any new applicants under a.... More »
How to use your credit card responsibly + MORE May 30th
Credit cards are a part of everyday life. They’re a convenient and safe way to pay for your purchases, and they often come with perks and benefits. Plus, when you use a credit card responsibly, you can build up your credit score, which can help you access loans, mortgages or other types of creditâ.... More »
Making sense of the markets this week: April 5, 2021 Apr 5th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Serious concerns over the Canadian housing bubble
BMO has sounded the alarm with strong warnings about what many are calling a housing bubble in Canada. In fact, it’s on fir.... More »
Is Your Credit Score Mortgage Ready?
– ratesupermarket.ca
May and June are the busiest months for real estate in Canada – and that means home buyers will soon be out in full force. It also means many prospective buyers are visiting their lenders, and asking for mortgage financing for their new dream home purchase. However, a new BMO study finds they may be in for a surprise – more than half of Canadians haven’t checked their score prior to their application, and may be blindsided by their credit standing. As banks base their decision on how much money you’ll receive on your credit score and report, some buyers may find they don’t make the credit-worthiness cut.
Here are a few tips for avoiding credit score disappointment when applying for your mortgage.
Also read: Is Closing a Credit Card Bad For Your Credit Score?>
Start Planning Early
It may be too late for the buyers already knocking on bank doors – but for those considering buying a home in the near future, it’s smart to start investigating your credit situation now, and ways to improve it…
Is Your Credit Score Mortgage Ready?
– ratesupermarket.ca
May and June are the busiest months for real estate in Canada – and that means home buyers will soon be out in full force. It also means many prospective buyers are visiting their lenders, and asking for mortgage financing for their new dream home purchase. However, a new BMO study finds they may be in for a surprise – more than half of Canadians haven’t checked their score prior to their application, and may be blindsided by their credit standing. As banks base their decision on how much money you’ll receive on your credit score and report, some buyers may find they don’t make the credit-worthiness cut.
Here are a few tips for avoiding credit score disappointment when applying for your mortgage.
Also read: Is Closing a Credit Card Bad For Your Credit Score?>
Start Planning Early
It may be too late for the buyers already knocking on bank doors – but for those considering buying a home in the near future, it’s smart to start investigating your credit situation now, and ways to improve it…
