Edmonton Real Estate Blog

8 Steps for Smooth Home Buying

1. HOWS YOUR CREDIT?
Buying a home is a process and too often people start with step 4 only to become frustrated when they discover that their credit score isn't where they thought it was which means their interest rates will be higher. This has a huge effect on the amount they will be qualified for. Your credit score is the benchmark for determining what the best interest rate that a Lender can offer you will be. Lenders take a risk when lending so it makes sense they will want to know what your repayment habits are on the credit you currently have. A good credit score, indicates good repayment practices which gives the lenders confidence that you will repay the loan. The reward for you is a lower interest rate.

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2. HOW MUCH HOUSE CAN YOU AFFORD?

Now that you've determined your credit score,...

Will Banks Cut Their Interest Rates to Reflect Bank of Canada's Rate Cut?

Overnight rate cut by Bank of Canada usually matched by decrease in prime lending rate.

Canadians have been left wondering whether they'll enjoy lower rates on mortgages and other loans in the aftermath of a surprise interest rate cut by the Bank of Canada on Wednesday,

Canada's five biggest banks are deciding whether to cut their prime lending rate, which affects the interest on some mortgages, lines of credit and other financial products.

Bank of Canada Cuts Rate in Surprise Move:

 Already, TD Bank has decided not to cut its prime rate, at least not for now.

"Our decision not to change our prime rate at this time was carefully considered and is based on a number of factors, with the Bank of Canada's overnight rate only being one of them," said Alicia Johnston, a...