Want to know what's "better" fixed or variable, how to pay off your mortgage faster, or how to get the best mortgage rate? Learn all you need to know about mortgages from basics, to insights, to refinancing, and more.
Learn the ins and outs of Credit Cards from how to reduce your credit card debt, to how to build your credit score, to how to find the best credit cards for your needs. We've got the top Credit Card do's and don'ts from the experts.
Everyone tells you to "save money", but no one seems to tell you how to do it. Learn how to grow your savings, build your TFSAs, get the best GIC rate, build your retirement plan, and more so that you can start building your savings.
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Trying to understand your credit score and how it’s calculated is like trying to crack a complicated algorithm. But we’ll give it a shot anyway. READ MORE
Our First-time Homebuyer Guide will take you through each step of this exciting process, as well as answer all of your frequently asked questions. Plus, we’ll test your new found knowledge with quick, fun-filled quizzes – you’ll be a homebuying expert in no time! READ MORE
All about mortgage refinancing. What it is, when you need to do it and the benefits. READ MORE
That’s right, we’re telling you not to sign your bank’s renewal letter, even though it’s so easy to do! Here are 5 reasons why you should force yourself to set fire to your mortgage renewal letter, or at the very least recycle it. READ MORE
Are you new to the housing market and looking for your first mortgage? Perhaps you already have a mortgage but you’re looking for a better rate? Or maybe your mortgage is up for renewal? Regardless of your situation, here’s our checklist to help you find the Best Mortgage Rate. READ MORE
Our First Time HomeBuyer's Guide is a series of 14 daily emails that will take you through each step of this exciting process. Think of it like a two week boot camp to get you into shape for buying your first home.
BANK OF CANADA RATES
Qualifying Rate: 5.14% When you are looking for a variable rate mortgage or a fixed mortgage with a term higher than 5 years, you will likely need to qualify at a rate often higher than the actual rate you are applying for. This helps the lender ensure that if rates go up, you will still be able to afford your mortgage payments. All variable and 1- to 5-year fixed mortgages with a down payment of less than 20% will be qualified using the Bank of Canada posted 5-year fixed rate.