Line of Credit: prime rate, base rate, variable rate
Recently, I went to Bank of Montreal to apply a line of credit. I thought the prime rate was pretty low currently at 2.25%, so perhaps it would be a good time to apply for LOC. However, I was wrong....
View ArticleInterest Rate Prediction vs Federal Election
Many banks have predicted the interest rate will continue to hike rapidly in year 2011. However I doubt it! The current prime rate is 3% at all Canadian major banks. With the federal election coming up...
View Article9 Useful Facts about House Mortgage
1. Amortization Period It is not always better to choose the longest amortization period on your mortgage. Although the payments will be lower with a longer amortization period, you will end up paying...
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