Learn more about Canadian mortgage rates, rules and the latest news – read on!
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The best 5-year fixed mortgage rates in Canada + MORE Jul 12th
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The best 5-year fixed mortgage rates in Canada
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As bond yields fall, mortgage providers are cutting fixed mortgage rates + MORE Dec 1st
With bond yields nearly 60 basis points off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward..... More »
Mortgage interest rate hikes have stalled your home-buying dreams. Now what? + MORE Jun 12th
Being priced out of the market might just be a blessing in disguise, writes Lesley-Anne Scorgie. Bide your time by saving more and enjoying the freedom that renting brings..... More »
The Latest in Mortgage News: CMHC sees chance of a recession if BoC policy rate hits 3.5% + MORE Jul 13th
As the Bank of Canada continues to hike interest rates, the country's housing agency sees the chance of a recession growing the higher rates go..... More »
Want to become a first-time home buyer in B.C.? These three steps can help Jun 25th
These days, being a first-time home buyer in British Columbia, or anywhere else in Canada for that matter, is not easy. For years, Canadian housing prices experienced a steady upward trajectory, but the pandemic resulted in an unprecedented surge. And even though home prices have started to fal.... More »
How do credit card payment deferrals work during COVID-19?
– moneysense.ca
If you’re dreading your credit card bill, you’re not alone. According to the Bank of Canada, 30% of us carry a balance from month to month, accruing interest, on average, at an eye-watering 19.99%. Simply put, we’re in the red, with an average of $23,800 per Canadian owing on credit cards, lines of credit, loans and other non-mortgage debt, according to Equifax Canada.
Those stats are from the end of 2019. Since the COVID-19 pandemic took effect, Statistics Canada reports that more than one million Canadians lost their job in March, taking the unemployment rate from historic lows to 7.8%. The job loss is a decline not seen since the 1980s.
What does that mean to our day-to-day financial lives? One in three (34%) Canadians are worried that they may miss rent or a mortgage payment or have to borrow money, according to an Angus Reid survey, released March 25. In addition, the survey found that 37% of households who have experienced job loss say that they aren’t equipped to handle an extra $100 expense in the next 30 days…
Those stats are from the end of 2019. Since the COVID-19 pandemic took effect, Statistics Canada reports that more than one million Canadians lost their job in March, taking the unemployment rate from historic lows to 7.8%. The job loss is a decline not seen since the 1980s.
What does that mean to our day-to-day financial lives? One in three (34%) Canadians are worried that they may miss rent or a mortgage payment or have to borrow money, according to an Angus Reid survey, released March 25. In addition, the survey found that 37% of households who have experienced job loss say that they aren’t equipped to handle an extra $100 expense in the next 30 days…
