A credit score determines your creditworthiness. When you apply for products like credit cards, loans, or mortgages, lenders check your credit score and profile to review your loan repayment history, credit utilisation, credit mix, and enquiries before determining your loan eligibility and terms. A poor credit score could lead to application rejection or approval with … Read more
Quebec provincial police have arrested five more people with crimes tied to a massive data breach at Desjardins, including the former bank employee originally suspected of being behind the leak. Four of them, three men and one woman, were arrested early Thursday morning, hours after Laval police announced arrests of their own tied to the … Read more
Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely won’t last, according to Canada’s housing agency. Canadian mortgage debt totalled $2.16 trillion that month, up 3.4 per cent from the same period last year — a historically low … Read more
Consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023, Equifax Canada said. The fourth quarter saw a continuation of what’s been happening for a while now as the impacts of higher interest rates and inflation continue to weigh on consumers, said Rebecca Oakes, vice-president … Read more
Business insolvencies jumped by more than 41 per cent in 2023, according to data released Friday by Canada’s top financial regulator. The report from the Office of the Superintendent of Bankruptcy showed that the total number of insolvencies — meaning those filed by both businesses and consumers — was up by 23.6 per cent last year. The … Read more
