Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Late last year, many had forecasted that the Bank of Canada might cut interest rates in 2020. However, no one could have foreseen just how low-interest rates were about to plummet in the coming months. Canada’s COVID-19 lockdown led to a sharp rise in unemployment, causing the Bank of Canada to s.... More »
Conventional wisdom may lead you to believe that if you have bad credit, you should swear off credit cards. But if you want to improve your credit score you’ll have to show you can handle credit responsibly—and the only way to do that is (you guessed it) to have a credit card. Used properly, it .... More »
Deferred payments on your mortgage or credit card? How to handle the strain when payments restart this fall + MORE Jul 28th
Hundreds of thousands of Canadians have deferred debt payments since COVID-19 took hold. There are some simple things you can do now to make sure you’re ready when those payments resume..... More »
Despite deep economic pain caused by the global pandemic, the Canadian economy—and the housing sector in particular—appears to be bouncing back from the near-complete shutdown of society…at least for now. That’s thanks in large part to numerous government measures meant to keep liquidity flo.... More »
Prospective home buyers feel the heat over new mortgage rules, but all hope is not lost, industry leaders say
Mortgage default insurance is mandatory on down payments between five and 19.99 per cent, and as of July 1 it will be even harder to qualify through the national housing agency. But don’t panic just yet.