Learn more about Canada’s top banks rates, rules and the latest news – read on!
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The best GIC rates in Canada for 2025 + MORE Dec 16th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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Is your chequing account working hard enough? Jan 10th
Your chequing account could be the behind-the-scenes hero of your everyday banking activities, if you have the right one. The features can vary from bank to bank and financial institution to financial institution, so it makes sense to shop around if you’re opening a new chequing account or you wan.... More »
BMO InvestorLine Review: A Premium Canadian Discount Broker Jan 8th
By my count, Canadian investors can choose from at least a dozen discount brokerages to do their self-directed investing. One of the larger brokerages is BMO InvestorLine, the online broker arm of Bank of Montreal, one of Canada’s Big 6 Banks. In this full review, I’ll let you know what to expec.... More »
Making sense of the markets this week: October 2 Oct 1st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Bears are beating the bulls this year, but don’t bulls always win?
As share prices continue to fall faster than earnings in almos.... More »
Best rewards debit cards in Canada for 2023 + MORE Jun 13th
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The best rewards debit cards in Canada for 2023
These are the debit cards that can earn you rewards like cash back, PC Optimum points, Scene+ points and Air Miles.
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TD, BMO get passing grades in Federal Reserve’s stress tests
– theglobeandmail.com
Toronto-Dominion Bank, Bank of Montreal and a majority of the large U.S. banks passed the second part of the Federal Reserve’s annual stress tests, giving them the green light to buy back shares, pay out dividends and make acquisitions.
Warren Buffett Acquires $400 Million of Home Capital Shares
– ratesupermarket.ca
Warren Buffett, famed American investor and business guru, is coming to the rescue of Home Capital Group Inc., the Canadian alternative mortgage lender that has been in the news for months. Berkshire Hathaway, a subsidiary of Buffett’s company, has indicated it will buy $400 million worth of common shares in Home Capital.
The news is restoring some confidence in the company, which is Canada’s largest alternative mortgage lender for those who can’t or don’t want to get a mortgage through one of the big banks. Share prices in the company had previously tumbled below $10 per share after it came to light in April that former Home Capital employees were accused of breaking the law in their handling of mortgage applications. However, now that Buffett is throwing his support behind it, share prices are back up to $19 per share.
Resolving Home Capital’s legal issues and cash crunch
On April 19, the Ontario Securities Commission (OSC) claimed that brokers falsified information on mortgage applications submitted to Home Capital, and the company, its CEO, and its CFO misled shareholders…
Warren Buffett Acquires $400 Million of Home Capital Shares
– ratesupermarket.ca
Warren Buffett, famed American investor and business guru, is coming to the rescue of Home Capital Group Inc., the Canadian alternative mortgage lender that has been in the news for months. Berkshire Hathaway, a subsidiary of Buffett’s company, has indicated it will buy $400 million worth of common shares in Home Capital.
The news is restoring some confidence in the company, which is Canada’s largest alternative mortgage lender for those who can’t or don’t want to get a mortgage through one of the big banks. Share prices in the company had previously tumbled below $10 per share after it came to light in April that former Home Capital employees were accused of breaking the law in their handling of mortgage applications. However, now that Buffett is throwing his support behind it, share prices are back up to $19 per share.
Resolving Home Capital’s legal issues and cash crunch
On April 19, the Ontario Securities Commission (OSC) claimed that brokers falsified information on mortgage applications submitted to Home Capital, and the company, its CEO, and its CFO misled shareholders…
Low interest rates have ‘done their job’, says Poloz
– macleans.ca
THE CANADIAN PRESS/Sean KilpatrickOTTAWA – With the Bank of Canada nearing its next policy decision, governor Stephen Poloz is reiterating his message that his 2015 interest-rate cuts appear to have done their job.
Poloz said in an interview broadcast on business news channel CNBC that the Canadian economy enjoyed “surprisingly” strong growth in the first three months of 2017 and he expected the pace to stay above potential.
The Canadian dollar climbed to 76.44 cents US, up from an average price of 75.83 cents US on Tuesday, as the comments increased speculation about the possibility of an interest rate hike by the Bank of Canada.
If the central bank raises its key interest rate, the big Canadian banks will raise their prime rates, driving up the cost of variable rate mortgages and other loans and lines of credit tied to the benchmark rate.
Poloz credited the two rate cuts introduced by the bank in 2015 for helping the economy counteract the effects of the oil-price slump, which began in late 2014…
