It’s a refrain Mortgage Broker News readers will be all too familiar with: “Why isn’t my credit score better? I pay my rent every month. How can that not matter?”
Rent is the biggest monthly expense for independent Canadians who don’t own their own homes. Paying it on time isn’t always easy. For thousands of Canadians, paying rent requires making a choice between meeting one financial obligation or another, but they overwhelmingly make rent a top priority.