Open this photo in gallery: Since its founding in 2018, Montreal-based Nesto has grown rapidly. Its most recent spurt occurred in June with the acquisition of CMLS Financial Ltd., the country’s third-largest mortgage finance company.Nathan Denette/The Canadian Press Fresh from gobbling up a much larger residential and commercial mortgage player, online lender Nesto Inc. has
Open this photo in gallery: A woman shops for vegetables at a Loblaws store in Toronto, on May 31, 2023.Ammar Bowaihl/The Globe and Mail You were force-fed 10 years’ worth of inflation in a short period of time – that’s why you feel your life is unaffordable right now. Last week’s interest rate cut by
The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75 per cent, the first cut in more than four years. Here’s what it could mean for your finances. What does it mean for consumers and prime rates? The Bank of Canada’s benchmark rate affects borrowing costs
housing-market-0514-ph Canada ranks among the countries hardest hit by higher interest rates in the developed world, but a new report says it didn’t have to be that way. Since the Bank of Canada began hiking rates in 2022, the debt-servicing ratio of Canadian households has soared to one of the highest among the advanced economies.