Mortgage Rates are on the Rise

Mortgage rates in Canada are on the move for the first time in nearly 7 years. The Bank of Canada finally increased mortgage rates on July 12th, 2017.  The Bank of Canada raised the mortgage rate 0.25 percentage points to 0.75 percent. A big question to ask homeowners now is that should they stay with a variable…

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Canadian Debt Status Update: Planning the Future

Canadian debt, is once again making news headlines. Articles talk about how if interest rates on mortgage payments increase by 1 percent, many homeowners will be in trouble. Then you have articles claiming that interest rates are set to rise over the next couple of years. The Bank of Canada stated that its trendsetting rate…

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Interest Rates and Household Debt

Headlines have been talking about the potential for interest rates to increase in Canada. With historically low interest rates on mortgages and mortgage debt, house prices have increased substantially. Since interest rates are so low, it is only a matter of time until the market decides to balance itself out. The Canadian Parliamentary Budget Office…

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