Introducing: The Borrowell Personal Loan Calculator!
Debt has become a major issue in Canada. In fact, 2017 figures from Equifax show that consumer debt is now at an all-time high of almost $1.8 trillion – and this includes $90 billion in outstanding credit card debt! If… Read More
March 16, 2018Blog
The Bank Of Canada Keeps Interest Rate At 1.25%
The Bank of Canada (BoC) announced Wednesday it’s keeping its trendsetting interest rate at 1.25%. This interest rate is called the “Overnight Rate” and is what dictates the prime consumer lending rates of Canada’s “Big Six Banks.” For context, the… Read More
March 7, 2018Blog
The Ultimate Guide To Qualifying For A Mortgage In 2018
The new mortgage rules are the talk of Canada at the moment! If you’ve been following the news, you’ll know that qualifying for a mortgage in 2018 is much harder than it was last year. If the words “stress test”… Read More
5 Creative Ways To Get Into The Housing Market
Has the high cost of real estate got you down? If you’re looking to buy in a big city like Calgary, Toronto or Vancouver, even buying on a shoestring five percent down payment budget can be challenging. (The new mortgage… Read More
Study: Monitoring Your Credit Score Can Help Improve It Over Time
A study conducted by Borrowell, Canada’s leading credit monitoring company, has found a positive relationship between the frequency of credit score monitoring and credit score increase over time. Drawing from user data, the study also reported that customers with lower… Read More
February 21, 2018Blog
Should I Consider A Personal Loan To Maximize My RRSP Contribution?
We are now well into RRSP season, with the deadline of March 1st right around the corner! This means you have until then to contribute to your RRSP and have it applied to your 2017 tax return. If you haven’t… Read More
February 21, 2018Blog
How Long Does Information Stay On My Credit Report?
Now that Borrowell has launched free credit reports for Canadians – we get asked this question all the time: “How long does information stay on my credit report?” It’s an understandable question, considering how important credit is to almost all… Read More
February 16, 2018Blog