As talk of an impending recession grows, and the Bank of Canada moves again on interest rates, many buyers are left wondering – what implications does this have for their own mortgages? Is it a great time to borrow, or should we heed warnings of too-high household debt levels? How sustainable are today’s historic rate discounts? And what can we do as borrowers to protect our finances?
We’ve got a full lineup, from the Bank of Canada’s rate cut, to housing crash cautions from an international watchdog. Read on for the full story.
The Bank of Canada Cuts Rate to 0.5%
The Bank of Canada has cut rates for the second time this year, bringing the cost of borrowing to 0.5%. How will this affect borrowers, homeowners and the economy? Here’s what you need to know.
Read Penelope’s Blog | The Bank of Canada Cuts Rate to 0.5%
Canada Needs $9 Billion to Cover Housing Market Crash: C.D. Howe
How would Canadian homeowners weather a downturn in real estate prices? According to a recent C.D. Howe Institute report, not particularly well. The think tank finds Canada needs a $9-billion emergency fund to cover the cost to taxpayers should a housing crash occur and borrowers default en masse.
Read Jaclyn’s Blog | Canada Needs $9 Billion to Cover Crash
Condo Rules: What You Need to Know
Your home may be your castle – but if you live in a condo, you’re not the one making the rules. Condominium restrictions on decor, parking and pets are commonplace – but they may come as a surprise to buyers. Here’s a look at the most common condo rules, and what you should know before you buy in.
Read Allan’s Blog | Condo Rules: What You Need to Know
INFOGRAPHIC: What Do Canadians Enjoy About Online Banking?
Which bank offers the best online experience? Check out our infographic and poll findings and see where your lender ranks on the user satisfaction scale.
Read Derek’’s Blog | INFOGRAPHIC: What Do Canadians Enjoy About Online Banking?
How to Open a Joint Chequing Account
Thinking of opening a joint chequing account? Here’s what you need to apply, along with the pros and cons of opening one with your partner, parent or spouse.
Read Sean’s Blog | How to Open a Joint Chequing Account
This week, we asked our Twitter followers:
Do you think there will be a Canadian recession?