VARIABLE VS FIXED – What’s the Scoop! Dr. Moshe Milevsky of York University has done some extensive research on Fixed vs Variable Rate Mortgages.  The key points of his recently written article are as follows:   Based on data from 1950 to 2007, the average Canadian could expect to save interest of 90.1% of the […]

 What is a FICO® Score?  The FICO® score, developed by Fair, Isaac and Company, Inc (the pioneer in credit scoring) is a number between 300 and 900 that lenders use to determine your credit risk.  A FICO score, referred to as a Beacon Score, is a snapshot of your credit risk at a particular point […]

When the Bank of Canada raised its Bank Rate by 25 basis points to 0.75% last Tuesday, there were already a few grumblings from Canadians in the housing sector and elsewhere who thought interest rates should remain at an effective rate of almost zero for time immemorial so they could continue to borrow cheaply. That […]

Bank of Canada increases overnight rate target to 1/2 per cent and re-establishes normal functioning of the overnight marketOTTAWA – The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per […]