How much more do you think the person with the poor credit score will have to pay? 1. Monitor your credit score. Then, identify areas of your credit history that need work, make steps to improve and continually monitor your progress. 2. Pull your credit reports and dispute errors.
Mortgage rates in Canada are down and could fall further following the Bank of Canada's 0.25 per cent cut in the overnight lender rate. On the Coast's financial columnist, Mark Ting offers this advice. Fixed mortgages are much more complicated and the penalties can run into the tens of thousands as they are based on a formula called the interest rate differential (IRD).
Now's the time to refinance. More than 7.4 million homeowners stand to benefit from slipping mortgage rates.