Fear of rising interest rates is causing more Canadians to opt for fixed-rate mortgages over variable-rate alternatives that could save them thousands of dollars in payments, according to a leading expert. Justin Thouin, CEO and co-founder of LowestRates.ca, is calling for consumers to base their mortgage decisions on 30 years of downward trending rates, rather
Whether it’s a palatial residence, a trendy condo or a tiny bungalow, a home is the most expensive thing most Canadians will buy in their lifetime. For a nation known for its love of discounts and reward programs, you’d think we’d be all over getting the best possible deal on our mortgages. But over and
Rising consumer debt loads aren’t a problem for Canadian banks yet, but they soon could be, according to a new report from rating agency Moody’s. In a report released Tuesday morning, the agency warns that the credit quality of Canada’s biggest lenders is under threat in part due to longer terms on car loans, and the more than
