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How to build credit with a Home Trust Secured Visa card

It happens to many of us from time to time. Either we need to build our credit, or even rebuild it. Well, the good news is there is a card on the market that can help you do just that. 

With this card, you put a deposit down to secure a line of financing from Visa. This is ideal for those who need to rebuild credit, perhaps to switch to a new mortgage deal or to get a mortgage in the first place. The card works just like a credit card and can help raise your credit rating as long as your monthly payment is made on time. You can see what all this card entails and apply for it here. 

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Posted 1 Comment on Bank of Canada will keep its target rate as-is: Good news for those in a variable rate Mortgage News

Bank of Canada will keep its target rate as-is: Good news for those in a variable rate

This week even more good news was announced by the Bank of Canada. A press release stated that the overnight rate will stay the same for the time being. This is great news for those with variable rate mortgages.

Only weeks ago, many were speculating on a micro-decrease but that didn’t happen. Now, we saw the media at it again. They were forecasting for a possible Bank of Canada rate increase. Well, this should shut them up.  

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Posted 1 Comment on Is it cheaper to rent or buy? Mortgage News

Is it cheaper to rent or buy?

So many pessimistic reporters here have been telling Canadians it’s better to rent than own. Well, those people have been really quiet over the past few years given that rents have really taken off and housing prices have skyrocketed, leaving those that had purchased in a great equity position.Those that listened to the media “experts” have nothing to show except for record high rents and landlords that want to evict them because market rents have gone up by about 30% over the past 5 yrs.  

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Posted 2 Comments on Fixed rates going up? Should you be concerned? Mortgage News

Fixed rates going up? Should you be concerned?

You may have seen or heard reports of pending fixed rate increases. The media loves to spread and focus on bad news more than good news. That’s the media for you, though.

This is your notice that fixed rates could go up over the next few weeks. Now that we have that out of the way, let’s talk about what you should do. Personally, I am doing nothing. I am keeping all my mortgages in a variable rate. The reasons are simple. 

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