BoC signals that rates will rise gradually

The recent jump in Canada’s inflation rate should be temporary and price levels will remain subdued even with a gradual reduction in monetary stimulus, the Bank of Canada said on Wednesday. Despite putting an interest rate hike firmly back on the table for the second half of the year on Tuesday, the bank suggested in…


New mortgage rules could price some out of market

The mortgage world is changing again with some new rules for Canadians. Canada.com – Tougher mortgage lending rules, as unveiled by Finance Minister Jim Flaherty on Monday, could add an estimated $100 a month in carrying costs for future homeowners — pricing some people out of the real estate market — and affect roughly 20,000…


Government Grants available now

Did You Know That… 15,000,000 People Get Free Help & Training Yearly To Obtain Better Jobs? 2,000,000 Entrepreneurs Get Money Every Year To Start Or Expand a Business? 5,000,000 People Get Money Every Year To Invest In Real Estate? Over $1,000,000,000,000 (1 Trillion) Is Given away Every Year & The Amount Is Actually Rising? 35…


Private Lender Saves Winnipeg Couple from Losing Their Home

The Hopewell’s (not their real names) were only weeks away from losing their home to bank foreclosure. The Hopewell’s efforts to re-finance their mortgage were futile as the majority of banks, credit unions and finance companies will not knowingly finance an individual that is in foreclosure. The Hopewell’s managed to secure private financing through a…


Missing bill payments, late charges can put a black mark on your credit record.

So you’ve missed a couple of credit card payments over the years, maybe let your cellphone bill balloon a bit. It’s all ancient history, right? Sadly, no. Like that ill-advised photo on Facebook, your little financial indiscretions can haunt you for years. Credit-reporting agencies, such as Equifax Canada and TransUnion, collect detailed credit information that’s…


Six emerging trends that will shape the Canadian mortgage industry

Six emerging trends that will shape the Canadian mortgage industry and impact mortgage holders as mortgage lending landscape continues to experience this paradigm shift include: 1. Imminent changes in legislation may remove penalties and barriers for switching mortgage lenders: In response to consumer group concerns that mortgage prepayment penalties are complicated and lack disclosure, the…


Is it good to combine mortgages, loans?

The ability to combine a mortgage and other loan contracts in a packaged deal became increasingly popular as interest rates fell and home prices rose. Loyal borrowers who qualified for ready access to credit appreciated the flexibility, and the potential for savings on the cost of setting up a new loan. But many borrowers may…


Task Force on Financial Literacy has released a report

The Task Force on Financial Literacy has released a report summarizing the public consultations it carried out earlier this year. The report, released Wednesday summarizes the principal themes, issues and suggestions the task force heard in its consultations, including: the need for tools to assist people with budgeting, saving and debt repayment; the need for…


Toronto credit union offering mirco-loans for business

As more people in Canada access microcredit to start and expand businesses, the economic and social benefits are growing. The Globe and Mail wrote a story on Pangiotis Tsiriotakis an entrepreneur who took advantage of the nmicroloans that Alterna Credit Union was offering. Read more


Today’s Popular Credit Cards

Here  are today’s most popular Credit Cards. Shoppers Drug Mart® (not available in Quebec) 1.99% introductory annual interest rate on balance transfers and cheque cash advances for 6 months Earn 25 Shoppers Optimum Points®ii for every $1 in purchases when used with your Shoppers Optimum Card®—learn how Get 15,000 Shoppers Optimum Bonus Points®†† after your…