Buying a House During a Recession May Be a Good

question 162

True/False

Buying a house during a recession may be a good idea if your job seems secure because the Bank of Canada often lowers interest rates during a recession.

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Definitions:

Face Value

The nominal or dollar value printed on a bond, note, or other financial instrument, representing the amount due at maturity.

Journal Entries

Are the record of all transactions a company makes, detailed by date, in the accounting system.

Secured Bond

Bond issued by a corporation that pledges specific assets as security to meet the terms of the bond agreement.

Debenture Bond

A type of debt instrument not secured by physical assets or collateral but based on the issuer's creditworthiness and reputation.