Are Your Borrowing Habits to Blame?

Borrowing Habits

It’s no secret that the bargain-basement cost of borrowing in Canada tempts consumers into taking on more debt; it’s a great time to apply for a mortgage, line of credit, and other types of variable-based loans. But that isn’t stopping most of us from racking up our credit cards – the most expensive debt out there.

Read on for the findings from our recent Debt Denial survey – and what’s potentially to come for mortgage borrowing in Canada.

INFOGRAPHIC: 27.5% of Canadians are in Credit Card Denial

When it comes to understanding our debt, over a quarter of Canadians are getting it wrong. Our Debt Denial study finds the truth about how our credit card balances stack up to the national average – and it isn’t pretty.

Check out our infographic and calculator to see if YOU are in debt denial!

Read Penelope’s Blog | 27.5% of Canadians are in Credit Card Denial

Low Oil Leads to Slower Home Sales: CREA

Sliding oil prices have finally caught up with Canada’s housing market; the latest numbers from Stats Can and the Canadian Real Estate Association find sales activity slowed this month by 3.3 per cent. And it comes as no surprise that the hardest-hit markets are in energy-reliant Alberta.

Read on for the latest.

Read Rubina’s Blog | Low Oil Leads to Slower Home Sales

Will the Bank of Canada Cut Rates Again in March?

Ever since the Bank of Canada surprised borrowers and economists with last month’s rate cut, speculation has abounded whether more are to come in March’s announcement. Governor Stephen Poloz has made recent comments that may indicate a cut isn’t in the cards in the near future – but it’s still a possibility.

Here’s what you need to know.

Read Penelope’s Blog | Will the Bank of Canada Cut Rates Again in March?

4 Tips for Filing Senior Taxes

Senior taxes can be more challenging than those filed earlier in life, with more tax credits and trickier income requirements to navigate. Here are our tips for making it easy.

Read Andrew’s Blog | 4 Tips for Filing Senior Taxes

How to File Taxes Without a T4

This Monday, March 2, is the deadline for employers to provide T4s. But what if you won’t receive one (or even worse – lost it!)? The CRA still expects you to file on time, even if you don’t have your T4 on hand. Here’s how to do it.

Read Allan’s Blog | How to File Taxes Without a T4

#RSMWIN

On for a 2nd week – answer to enter for a $25 gift card!

Have you had to pay for any unexpected winter expenses?

Tweet your answer to this week’s Q to @RateSupermarket with #RSMWIN!

Related Topics

Credit Card Debt / Credit Card News / Credit Cards / Economic News / Mortgage News / Mortgages / Your Credit Score

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