Interested in learning more about property mortgages in Canada? Look no further!
Latest News
CMHC reports annual pace of housing starts dropped 17% in October Nov 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in October fell 17% compared with September..... More »
What’s the best way of using your home equity during retirement? + MORE Nov 10th
Mortgages in Canada can be a murky subject - one that we hope to shed some light on with a series of highly informational articles.
High Mortgage Volumes Helped Drive Q3 Results for First National And Equitable Bank - canadianmortgagetrends.comStrong mortgage volumes throughout the year helpe.... More »
You bought a home—should life insurance be next? + MORE May 9th
Buying a home is one of the biggest financial milestones for young Canadians, and one of the riskiest. For many households, a mortgage becomes the single largest expense they’ll ever take on, often requiring two incomes to keep it manageable.
That reality is driving more homeowners to buy life .... More »
Prime Rate Falls to 2.95%, Some Banks Increase Variable Premiums + MORE Mar 20th
For the second time in two weeks Canada’s prime rate has fallen by 50-percentage points. Following the Bank of Canada’s emergency rate cut on Friday, RBC led the way in passing along the full 50 bps of rate cut on Monday, with most of the other big banks soon following suit. That lowered the c.... More »
The Latest in Mortgage News: RBC downgrades its housing market forecast + MORE Jul 28th
RBC says it expects the country's housing correction to "deepen" in the coming months with resale activity and prices falling more than expected..... More »
Should You Apply For a Loan or Line of Credit?
– ratesupermarket.ca
Banks offer a variety of products to give you access to cash. But is every borrowing option the same? If you’re weighing the alternatives, you may struggle with the choice between a loan and line of credit. Only you can decide what’s best for you, but there are some factors to consider. Those include your personal spending habits and your plans for the extra source of funding.
What’s the Difference?
Once you’re approved for a line of credit, you don’t have to use it right away. The credit line is available for you to draw from as you need, but you’ll have to make regular payments on any balance. It’s considered a revolving form of credit, where you get the available credit back after you’ve made the agreed upon payments. Some lines of credit only require that you pay the interest on any outstanding balance.
A loan typically comes as cash in one lump sum. You pay it off in fixed installments. Once it’s paid off, it’s paid off…
