The Bank of Canada surprised many when its Oct. 26th rate hike decision came in with less intensity than the market expected. Instead of a 75 basis point increase, the BOC opted for a slightly more placid 50 basis point increase. The …

On Wednesday, October 26th, the Bank of Canada will make its next interest rate decision. We’re now 8 months into arguably the fastest and most intense rate hiking cycles in the history of Canadian finance. The BOC has taken rat …

Having access to debt is critical in our society, and the way to unlock it is with a healthy credit score. Many young people and university students are inundated with offers of credit cards that they readily accept without fully gras …

Call us to explore your options and to make the best use of your housing equity. Don’t discount the potential of tapping into a second private mortgage with Tembo Financial. The first advantage is speed. We can seal the deal on …

Canadians generally maintain high and healthy credit ratings. The average credit rating in Canada is 672, which most credit bureaus consider to be good. Most Canadians fall within the broad range of 650 to 725. The average score in 20 …

TD Bank just released a Q&A document on the state of the housing market, zeroing in the recent cooling we’ve seen from higher rates. Here’s a summary of its findings for our Tembo readers. The first portion of the repo …

The narrative that the spate of big rate hikes we’ve seen will force central banks to back off on further increases continues to build. An internal CIBC note the Financial Post reported on suggests that we will see a 75 basis po …

So far, inflation in Canada peaked at 8.1% in June, falling to 7.6% in July. Higher inflation is driving more and more Canadians to lean on credit cards, loans, and lines of credit to make ends meet. With higher interest rates comes h …

The cooling market continues to put downward pressure on house prices, particularly outside of the GTA. Housing markets in rural, small town, and exurban Ontario, where the COVID fueled back to the land trend raised values most, are n …

Rates are going up everywhere. We’ve all seen how quickly the panicked Bank of Canada moved to hike the cost of money. In the U.S., the interest rate for a fixed 30 year mortgage is now approaching 6%, where not long ago it was …

The latest data from ratehub.ca shows that higher interest rates are pushing up mortgage stress test amounts by some $18,000 per borrower or couple. Stress tests are pushing up the costs of borrowing and are forcing many prospective b …

The BOC’s terminology for its 1% interest rate hike calls these big increases “front-loaded.” A massive increase now staves off the need for multiple rate hikes in the future. BOC Governor Macklem has used strong lan …