Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Rising Interest Rates Expected to Boost Bank Earnings & Payouts Aug 20th
The Globe and Mail, David Berman, 19 August 2018
Concerns about the Canadian housing market have been weighing on bank stocks this year, and it’s likely that these concerns will be a focal point for investors as the big banks roll out their fiscal third-quarter results starting this week.
Roya.... More »
The close: TSX at 3-week high as oil boosts energy stocks Mar 28th
Wall Street lifted by consumer data; banks, energy lead
.... More »
Wall St. hits another record high, as TSX edges up and loonie breaks 80 cents US Oct 3rd
TORONTO _ Wall Street set another record high Tuesday on relatively minor movements as Canada’s largest stock index inched forward and the loonie cleared 80 cents US.
In New York, the Dow Jones industrial average gained 84.07 points to 22,641.67. The S&P 500 index edged up 5.46 points to 2.... More »
The Power of Points: CIBC Survey Shows Canadians Missing Out on Valuable Reward Point Redemptions Jul 23rd
Canadians are missing out on some major savings on merchandise, travel, and even chances to pay down their debt. And the answer to “why?” is right under their noses, or at least, right on their monthly bank statement.
According to a recent CIBC survey that reviewed if and how Canadians are usin.... More »
RateSupermarket.ca Will Become RATESDOTCA Sep 30th
We are excited to announce that RateSupermarket.ca will become RATESDOTCA. Don’t worry, besides a name change, how you compare the best credit cards and mortgage rates will remain the same.
What does this mean for you?
Our name is changing, but rest assured, everything else will remain the same.
.... More »
India’s central bank cuts key lending rate to 6.25 per cent
– canadianbusiness.com
NEW DELHI – India’s central bank cut its key interest rate by a quarter of a percentage point Tuesday, taking rates to the lowest they have been since late 2010.
The announcement by the Reserve Bank of India reduced its repo rate to 6.25 per cent. This is the rate at which the central bank lends to commercial banks.
The cut is the first major announcement by the bank since Urjit Patel became its governor last month. This is also the first time that monetary policy has been decided by a six-member committee. Previously the RBI governor had the final say in the interest rate announcement.
The central bank has been aiming to boost the economy by lowering the cost of borrowing. The announcement also comes as inflationary pressures are easing.
The post India’s central bank cuts key lending rate to 6.25 per cent appeared first on Canadian Business – Your Source For Business News.
The announcement by the Reserve Bank of India reduced its repo rate to 6.25 per cent. This is the rate at which the central bank lends to commercial banks.
The cut is the first major announcement by the bank since Urjit Patel became its governor last month. This is also the first time that monetary policy has been decided by a six-member committee. Previously the RBI governor had the final say in the interest rate announcement.
The central bank has been aiming to boost the economy by lowering the cost of borrowing. The announcement also comes as inflationary pressures are easing.
The post India’s central bank cuts key lending rate to 6.25 per cent appeared first on Canadian Business – Your Source For Business News.
Low rates are here to stay, ECB’s Praet tells bankers
– theglobeandmail.com
Banks have complained that ultra-low ECB rates are eating into their lending margins
Mortgage insurance changes will impact buyers
– moneysense.ca
Mortgage lenders don’t carry enough of the risk of insured mortgages and, as of today’s announcement, this could soon change.
In an effort to reduce the risk to taxpayers, Finance Minister Bill Morneau introduced changes to mortgage insurance rules that will impact both home buyers and banks.
At present, lenders are required to obtain mortgage loan insurance for any high loan-to-value mortgage—a loan where the homebuyer’s down payment or equity in the home is less than 20%. It’s pretty much an industry standard for lenders to pass on the cost of this mortgage insurance to homebuyers.
Ottawa closes foreign buyer tax loophole »
However, lenders can also opt to pass on the risk of a mortgage to taxpayers by paying for mortgage loan insurance, even when the downpayment or the equity in the home is greater than 20%. The insurance is bought and paid for by the lender as it helps defray the downside risk of mortgaging a more expensive property.
However, since last November, the Department of Finance acknowledged that it was examining the impact of shifting more of the risk of insured mortgages onto the banks and mortgage lenders…
In an effort to reduce the risk to taxpayers, Finance Minister Bill Morneau introduced changes to mortgage insurance rules that will impact both home buyers and banks.
At present, lenders are required to obtain mortgage loan insurance for any high loan-to-value mortgage—a loan where the homebuyer’s down payment or equity in the home is less than 20%. It’s pretty much an industry standard for lenders to pass on the cost of this mortgage insurance to homebuyers.
Ottawa closes foreign buyer tax loophole »
However, lenders can also opt to pass on the risk of a mortgage to taxpayers by paying for mortgage loan insurance, even when the downpayment or the equity in the home is greater than 20%. The insurance is bought and paid for by the lender as it helps defray the downside risk of mortgaging a more expensive property.
However, since last November, the Department of Finance acknowledged that it was examining the impact of shifting more of the risk of insured mortgages onto the banks and mortgage lenders…
Janus’ Bill Gross warns financial markets have become ‘a Vegas casino’
– theglobeandmail.com
Gross has cautioned against cycle of zero and negative interest rates from central banks
