Found 3 blog entries tagged as credit rating.

The COVID-19 pandemic supercharged a market that already favoured sellers. With available listings hitting a record 14-year low before the pandemic, it was no wonder that housing prices had soared upward, with the Canadian Real Estate Association forecasting the national average home price would rise a whopping 19.9 per cent on an annual basis to $690,000 in 2021. Low interest rates, economic support and lockdowns that drastically shifted the consumer appetite, contributed to a sharp increase in demand and, consequently, price growth across virtually every Canadian housing market.

But did these changes cause real estate prices to become overvalued? According to Moody’s Analytics, a leading credit rating agency, this was most certainly the case. The…

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How do you buy a home

What are the steps to buying a home? You’re starting to think about becoming a homeowner, or maybe you’ve even started to look at listings. Either way, you likely have lots of questions, from the general “how tos” to specific queries around financing, different home types and locations, to how to make an offer. To help simplify what can be a complicated process, we’ve outlined the steps to buying a house in Canada.

What Are the Steps to Buying a Home?

There’s a lot to do, but we’ve narrowed it down. Here’s our 10-step home buying process checklist to get you started!

1. Choose a real estate agent that’s right for you.

A home is a huge investment, so work with a realtor that’s knowledgeable, professional and…

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How Does Your Credit Score Affect Your Mortgage Interest Rate

It takes credit to build credit ­– most of us have heard this at some point in our early years of adulthood. Some of us heard it when we got our first credit card; others when they went to apply for a loan of some type and realized they didn’t have a credit score. The crux is that while it takes credit to build credit, it also takes credit to destroy credit. So, what exactly is “credit” when it comes to finances, and how does your credit score affect your mortgage interest rate?

Credit is essentially a numbering system that gauges how likely you are to repay borrowed money. The higher your score, the ‘safer’ you seem to lenders, and the lower your score, the ‘riskier’ you are.

The first step to building your credit is to…

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