Sepehr Safaee YourOttawaRealEstate.com's blog

Equifax vs Credit Karma: What’s the difference?

Credit Karma and Equifax play different roles when it comes to your credit.

Equifax is one of the two main Canadian credit bureaus, along with TransUnion. These companies compile information about your credit into reports that are used to generate your credit score.

Credit Karma isn’t a credit bureau, which means we don’t determine your credit score.

Instead, we work with TransUnion to provide you with your free credit report and free credit score. We also show recommendations for credit cards and personal loans, and help connect...

You can tell a lot about a society by the quality of indoor clothes drying racks it offers for sale. When you’ve got a population seriously committed to household conservation and energy efficiency, you’ll find excellent drying racks in stores everywhere. But when you’ve got a society that’s largely ignorant of the hidden costs of running every wet article of clothing through a power-gobbling dryer, you’ll find stores littered with $49.98 drying racks that bend, break, and collapse.

Sadly, over the last four or five decades, Canada has become a cheap drying rack kind of place, though I...

The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest rate cuts are imminent.

Experts who spoke to Global News say despite variable-rate mortgages remaining the more expensive option today, it’s a “good environment” to consider the product for homebuyers and refinancers who are comfortable with a bit more risk.

James Laird, co-CEO of Ratehub.ca, says it’s a better market to get a mortgage today than last fall when rates peaked.

Fixed mortgages on offer have...

Homes valued between $500,000 and $750,000 now account for the largest proportion of the real estate market in Ottawa, as home prices continue to rise across Ontario.

Newly released data from the Municipal Property Assessment Corporation shows homes valued between $500,000 and $750,000 account for 43.2 per cent of Ottawa's properties, while only 19 per cent of homes are valued under $500,000.

The Municipal Property Assessment Corporation looked at the values of residential properties in Ottawa and across Ontario in 2013 and 2023.

The number of properties valued under $500,000 in...

The Ottawa Real Estate Board (OREB) says the capital's real estate market thawed in January, but the market is still relatively quiet.

Newly released statistics show 629 homes were sold in January, which is in increase of 16.5 per cent from January 2023. OREB notes that home sales were 10.7 per cent below the five-year average and 3.9 per cent below the 10-year average for the month of January.

“Ottawa’s market activity is seeing positive gains over last year but it’s still a relatively quiet market even by pre-pandemic standards," Curtis Fillier, OREB president,...

The Bank of Canada has announced its key overnight interest rate will remain at five per cent, keeping its benchmark the same for the fourth time in a row.

Today's announcement was predicted by many economists. The central bank last raised interest rates in July 2023. At a press conference on Wednesday morning, the central bank's governor, Tiff Macklem, said discussions at the Bank of Canada are now shifting from how high to how long.

Instead of looking primarily at whether the bank's policy-setting interest rate is high enough, the bank is now considering how long...

When faced with property damage in your rental unit, the situation can quickly become overwhelming. Whether due to a natural disaster, an accident, or a negligent act, sorting out who’s responsible for repairs in Canadian rentals is a crucial first step.

The Residential Tenancies Act (RTA) provides a framework for these situations, detailing the obligations of landlords and tenants. Understanding your legal responsibilities can help you effectively manage repairs and mitigate any disputes that may arise.

Understanding Property Damage and Repairs in Rental Units

Under...

If you’re gearing up to sell your house, you might be pondering whether to spruce it up or sell it as is. It’s a common conundrum. While it’s crucial to fix major issues like faulty foundations or a failing heating system, it’s equally important to know which improvements aren’t worth your time or money.

In the bustling Canadian housing market, the decision to renovate or not can significantly impact how quickly you sell your property and at what price. But beware of over-improvement. Contrary to popular belief, not every repair or upgrade will add value to your home. In fact, some...

Credit scores play a crucial role in the world of finance, particularly when it comes to securing a mortgage. In Canada, a good credit score can be the key to unlocking your dream of homeownership. Errors in your credit report can have a negative impact on your score, making it all the more important to regularly review and correct any inaccuracies.

When it comes to mortgages, lenders often rely on your credit score to gauge your financial reliability. Most lenders require a minimum credit score of 620, though this varies depending on the lender and the type of mortgage. Your credit...

Since March of last year, the Bank of Canada has raised interest rates an unprecedented nine times. Not only that, but the rates themselves have swung from historic lows to a 20-year high. Resulting monthly expenses have been just too steep for many mortgage holders.

To get a read on Canadians’ sentiments overall, Royal LePage commissioned a survey. It found that “74% of mortgagees with lending agreements set to renew within the next 18 months report feeling concerned about higher interest rates”.

As a result, many Canadians are looking to cut costs, including by considering a...