Loan

Interest Rate Prediction vs Federal Election

Interest 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 this May, there is a huge chance the rate will not increase at all by the end of...

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Line of Credit: prime rate, base rate, variable rate

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. When I got the reply from BMO, the financial officer told me that if...

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Feature Story

Canadian High Interest Rate Savings Accounts

Each month I put away all my remaining money into some kinds of savings accounts until I need to use it. Instead of locking...

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