In recent years, the economic situation around the world has shaken a lot, which of course has had an impact on Canada’s prime rate. A couple of years ago, the prime rate was 2.45%, but recently this has risen to 3.20%. What is the prime rate, what does it affect, how it has changed in… Continue reading What Is The Prime Rate in Canada And Why Should You Care About It?
Category: Loans
Is there a possibility to avoid CMHC fees?
If the thought of paying for a loan seems painful to you – there are some ways to lower the amount you have to pay for mortgage insurance. What usually comes to mind when we think of taking out a credit? Of course, we think of several things – the borrowing rate, the amount of… Continue reading Is there a possibility to avoid CMHC fees?
Construction Loan Guide for Canada in 2021 — All the Details Explained
Some people are happy with the existing housing market options. Some are not. Despite all the differences, both probably need a loan to move into their dream house. A construction loan is the weapon of choice for those who need to build it first. When you look at the real estate market today — you… Continue reading Construction Loan Guide for Canada in 2021 — All the Details Explained
Get the Key Differences of Cosigner vs Co-borrower for Safe Loan Applications
If your current financial situation is not strong and you need to borrow money, you can use the borrower-co signer relationships to your benefit. Figure out the cosigner vs co-borrower here to see which type of assistance to seek for. Cosigner vs Co-borrower: Understanding the Core Understanding the cosigner vs co-borrower issue is crucial before… Continue reading Get the Key Differences of Cosigner vs Co-borrower for Safe Loan Applications
What Does APR Stand for and How to Use it to Your Advantage
Two well-known values reflect the cost of a mortgage – the interest rate and the Annual Percentage Rate, aka APR. The most common questions that come to mind when we hear about these terms are: “What does APR stand for?” “What are the additional costs I will have to pay?” If you decide to get… Continue reading What Does APR Stand for and How to Use it to Your Advantage
Best Way to SAFELY Say Goodbye to A Credit Card When You Don’t Need It
If you want to cancel your credit card — you need to follow a few simple rules. The most important question here is, do you want to cancel one card or all at once? To avoid making mistakes — calm down and think twice about your decision. You need to close the card correctly, evaluate your financial… Continue reading Best Way to SAFELY Say Goodbye to A Credit Card When You Don’t Need It