https://padlet.com/justinkbell88/10l7r2qw0xqif97h Justin Bell Nolan Barkey Brandon Daynard en-us 2020-12-01 00:08:44 UTC 2025-11-10 18:46:28 UTC hello@padlet.com https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973891928 2020-12-01 00:23:06 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973891928 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973906177 It is very important to keep track of your credit score and ensure that you maintain a good credit score. People with low credit scores will have to pay higher interest rates when taking out a loan. While people with high/good credit scores will be offered lower interest rates on loans.]]> 2020-12-01 00:29:33 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973906177 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973913673 The bank of Canada has committed to keeping interest rates low until 2025. The Bank of Canada has decided to keep interest rates low due to the effect of the pandemic on Canadian households.]]> 2020-12-01 00:32:51 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973913673 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973920070 This article touches on what interest rates are, the history of the bank rates in Canada, and overnight rates. Most importantly, this article discusses the three main factors that affect the fluctuation of interest rates: risk on behalf of the lender, the expected time it will take  for the loan to be repaid, and the purchasing power of the money. 
We chose to include this article because it perfectly captures exactly what it is we are discussing, which is the factors that affect the fluctuation of interest rates. ]]> 2020-12-01 00:35:35 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973920070 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922316 We learned that the Bank of Canada interest rate will have a chain reaction and affect credit card interest rates and savings account interest rates.]]> 2020-12-01 00:36:38 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922316 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922629 I will be buying a car soon, to ensure I get the best interest rate on my car loan I need to make sure I pay off all my credit cards on time and keep my credit score high.]]> 2020-12-01 00:36:48 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922629 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922711 This article talks about the direct correlation between interest rates and credit score. It shows us that a bad credit score will result in higher interest rates
When acquiring a loan nobody wants to pay very high interest rates, a key factor in determining interest rates is ones credit score. The reasoning behind this is because a bad credit score indicates you don't make payments on time and this is disconcerting to the lender. One piece of information I found useful in this article is the ways to improve credit scores as well as the graph indicating the direct relation to credit scores and interest rates.]]> 2020-12-01 00:36:50 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922711 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922904 If I knew someone looking to buy a house I would encourage them to make the purchase while interest rates are this low. ]]> 2020-12-01 00:36:56 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973922904 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973930016 Stephen Poloz discusses the need for fiscal policy during the COVID-19 crisis. If fiscal policy does more to take the financial burden off monetary policy. These days fiscal policy is the main tool to control interest rates. In the long run declining interest will be something to worry about. Interest rates are likely to stay low for a generation. 

We chose this video because it is from Business News Network which is a trustworthy source. One piece on information We found useful was that interest rates have been low other than in the 70's and 60's.]]> 2020-12-01 00:40:15 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973930016 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973935003 This video briefly introduces what an interest rate is before explaining the factors that affect the fluctuation in them. This video is short and to the point and tells us the demand for credit, inflation, and the federal fund rate are the main factors that affect fluctuation in interest rates.
We decided to include this video because of the simplicity of the explanation, and the fact that the topic aligned perfectly with what we are describing; the factors that affect the fluctuation of interest rates. ]]> 2020-12-01 00:42:40 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973935003 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973955483 This article explains how a policy interest rate in Canada is the amount of interest the Bank of Canada and other Canadian banks charge each other for overnight loans. It goes on to state this affects us because if the bank of Canada changes their interest rate for other banks it sets of a chain reaction and determines what interest rates the bank will now charge on credit cards overdue and how much it will give out for savings accounts.
Something to take away from this article is that it is next to impossible to predict a change in interest rates because of the bank but to keep an eye on them. this is beneficial because if you see them inflate or deflate you can sign up for a savings account accordingly or re-evaluate your mortgage.]]> 2020-12-01 00:51:46 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/973955483 justinkbell88 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/974001535 This video discusses negative interest rates. Many other countries are utilizing negative interest rates to boost the economy. These countries are testing having negative interest rates to see if they work out. You would have to pay  to keep money in a savings account, and would earn money when borrowing. Having negative interest rates will also increase the amount of debt, a category where Canada is already one of the worst countries in the world. 
We chose this video because it describes negative interest rates in an easy to understand way. One piece of information I found useful was that negative interest rates are possibly a tool to help boost a suffering economy. ]]> 2020-12-01 01:12:42 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/974001535 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/974005970 This article outlines the importance of having a higher monthly income than all your debt specifically your mortgage payments should you be looking to buy a home. While lenders look at credit scores they also consider how much you make monthly, in comparison to your monthly payments. Things included in your debt to income ratio is credit card payments, installment loan payments, housing, and student loans.
We chose this article because it is a very relevant factor contributing to interest fluctuating. some things that stand out in this article are the compensating factors to mention to a lender should you have a poor debt to income ratio. These Include liquid assets, a high credit score, and stable employment history.]]> 2020-12-01 01:14:48 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/974005970 https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/974019763 This video is from a news segment after the news had broken that the Bank of Canada was cutting the key interest rate. In this video, the news station's business host describes what the rate was cut to, why it was cut, and what this means. 
We decided to include this video because it shows that interest rates do fluctuate, even if it doesn't happen often. Also because this video touches on some of the factors we have mentioned elsewhere on this page. ]]> 2020-12-01 01:21:19 UTC https://padlet.com/justinkbell88/10l7r2qw0xqif97h/wish/974019763