Home / Mortgages / Making sense of the markets this week: June 9, 2024 + MORE Jun 8th

Making sense of the markets this week: June 9, 2024 + MORE Jun 8th

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An inside look at how your loans — and spending — affect your credit score Apr 6th

Having a variety of loans could help strengthen your credit score — or harm it, depending on your spending and payment history. But a credit card, car loan and mortgage work differently, making it hard to know how to improve your number..... More »

What New Year’s credit deals promise—and why you should be wary Jan 17th

January is for fresh starts, but too many Canadians are held back by last year’s overspending. Lenders know about new year’s debt-hangovers, so you may be seeing more credit offers in your inbox—but be wary. Used incorrectly, that deal on a balance transfer or sign-up bonus could get you into .... More »

Inflation holds steady at 1.7% in May Jun 26th

May inflation figures showed marginal improvements in some of the Bank of Canada’s closely watched price figures—a step in the right direction, some economists say, but likely not enough to convince the central bank to cut interest rates. The annual pace of inflation held steady at 1.7% in Ma.... More »
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Refinancing your mortgage? Here’s why a professional home appraisal is step one + MORE Mar 28th

Before you refinance your mortgage, it’s important to know your home’s true value. A professional home appraisal gives you an accurate picture of the value of your property, helping you make smarter financial decisions from lowering your monthly payments to accessing equity to evaluating your re.... More »
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How to keep your home after separation—even if you don’t qualify alone + MORE Apr 18th

Separation and divorce are hard enough without throwing mortgage stress into the mix. One of the most emotional questions we hear is, 'I want to keep the house, but I don’t make enough on my own to qualify—what can I do?'.... More »
Making sense of the markets this week: June 9, 2024Kyle 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.

“The Big Cut”

While The Big Short film is a riveting watch, “The Big Cut” may be even more enthralling. 

The Bank of Canada (BoC) made the decision to cut its key interest rate to 4.75% on Wednesday. It’s the first rate cut since March 2020. With about $700 million worth of mortgages coming up for renewal in Canada this year, “The Big Cut” is going to affect a lot of Canadians.

“We’ve come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the 2% target has increased over recent months.”
– BoC Governor Tiff Macklem 

Macklem also said: “Total consumer price index inflation has declined consistently over the course of this year, and indicators of underlying inflation increasingly point to a sustained easing…

Continue Reading On moneysense.ca »

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75%, the first cut in more than four years. Here’s what it could mean for your finances.

Continue Reading On canadianmortgagetrends.com »

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