Mortgages Spotlight: 2014 could be a golden year for the Canadian economy as a number of factors will benefit the housing market.
More By Melissa Wood:
The holiday’s are just around the corner – and t’is the season of overspending! Did you know Canadians spend an average of $1,100 on their holiday expenses? That’s why RateSupermarket.ca is giving away FREE $100 gift cards – and the chance to WIN free food and travel this holiday!
Looking to hit the open road this summer? Don’t spend a fortune at the gas station as a result. We’ve got a few easy tips for staying in power at the pumps – and being eco friendly while you’re at it!
Looking to cook up some savings? The first step to cutting down food costs – other than resisting the urge for take out – is to stock those cupboards! But how can you get the most bang for your buck at the grocery store? Why not heed advice from generations past – our elders sure know how to stretch a dollar! Check out our granny-approved and time-tested tips!
We’ve just added a NEW credit card on our site, the MBNA Rewards MasterCard I and wanted to give you the skinny on this new rewards card.
The holidays are over and 2011 is already history. Our news reporter extraordinaire, Rubina, catches up with shoppers to find out how Canadian consumers plan to save money in the new year.
Millions of people commit to getting in shape for their New Year’s Resolution, but RateSupermarket.ca is challenging Canadians to get financially fit as well. Canada’s rate comparison website for personal finance products urges consumers to tackle their personal debt and grow their savings in 2012.
If you’ve been carrying a variable rate mortgage, 2011 has been a great year for you. The Bank of Canada held their target for the overnight rate at 1% all year long and subsequently none of the major banks change their prime rates, currently steady at 3%. This resulted in no change to monthly payments for variable mortgage holders, and those of you on Prime – 1% are very lucky!
Variable mortgage holders can rest easy knowing that their mortgage payments are not expected to increase any time soon. Once again the Bank of Canada announced that they will leave the target overnight lending rate constant at 1%. This means that Prime rates will also stay the same and therefore variable mortgage rates. The Bank of Canada stated the following reasons for holding the course:
TORONTO, November 24, 2011… RateSupermarket.ca, Canada’ s go-to-website to compare and save money on credit cards, mortgage rates, and savings accounts, is challenging consumers to rethink their credit card strategy this holiday season. Credit cards aren’t just for spending money, but for saving money as well.