When taking out a personal loan, you first need to know how a fixed or variable interest rate will affect how much you pay. With a fixed loan, the rate and payment you make each month stays constant…
Canada’s three major urban centres have experienced a downturn recently, with an increase in unsold inventory from this time in 2011. Is Canada’s reliance on credit to blame?
The Bank of Canada is hinting a hike in the overnight lending rate is coming soon. This move will affect the payments on variable mortgages, lines of credit or any debt connected to the floating rate. If you’re worried about your ability to service debt in a higher interest rate environment, there are plenty of steps you can take right now to prepare.
A Guaranteed Investment Certificate (GIC) is a savings option where you agree to invest your money for a certain amount of time in exchange for interest on your money. It’s considered a safe investment because your principal is secure.