Mortgages are loans used to purchase a property such as a house, a condo or a cottage. Mortgage interest rates are lower than those found on other debt products such as credit cards because they are less risky for lenders. To ensure you get the best interest rate, use our mortgage rate comparator.
A saving account is a bank account into which you deposit money that you don’t necessarily need to use right now. Generally, interest on this type of account is higher than what you’d get with a chequing account. Read more
Obviously, you know what an interest rate is. If you borrow $1000 from your fiend for one year and they agree to charge you an interest rate of 10% (the crook!), it means that at the end of the year, you will repay them $1100. Until now it’s easy, right? Read more