Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Why do we rely on UK to disclose Canada’s pay inequity? Apr 7th
We have recent British legislation to thank for providing a glimpse into the grim reality that Canadian banks operating across the pond have a big gendered wage gap. UK data, compiled this week by Bloomberg News, summons more evidence, as if more is required, that transparency, both legislatively an.... More »
4 Low Risk Alternatives to Chequing Accounts + MORE Jan 27th
Investments like stocks, mutual funds, or cryptocurrencies carry some level of risk which you might shy away from for a variety of reasons. Whether you’re saving for college, getting ready to buy a house, or nearing retirement, if you’re looking for safer investment options, here are some o.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Mar 25th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Advertisement
Why trust us
MoneySense is an.... More »
JPMorgan, Lululemon and more: The week in earnings Jan 18th
Company earnings for the week of Jan 14, 2025
JPMorgan
Lululemon
Cogeco
UnitedHealth
JPMorgan posts record annual profits as major U.S. banks thrive in the final quarter of 2024
JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit.... More »
Should You Add an Authorized User to Your Credit Card? Mar 20th
Most credit card companies allow their cardholders to add an authorized user to their account – but why would you want to? There are various benefits; for example, you can kickstart your child’s credit history or provide a helping hand to a friend in a financial crisis. While these benefits.... More »
New mortgage rules to steer consumers to big banks
– moneysense.ca
Are you thinking about going to one of the smaller non-bank lenders for your next mortgage? If your property is worth more than $1 million you may be out of luck.That’s just one of the conditions consumers shopping for a mortgage will now need to consider as the latest round of federal mortgage rules take hold. Under the new rules non-bank lenders will likely have to turn away sizeable portion of mortgage seekers, leaving the big banks as their only option. For consumers it will mean less choice and higher rates on their next mortgage.
.cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}How much more you need to earn to buy a home
The new regulations, which kicked in on Nov. 30, impose stricter limitations on the types of mortgages that will qualify for mortgage insurance. In the past these tighter rules targeted risker, high-ratio mortgages, but the government is extending some of these same rules to less risky low-ratio loans…
