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
Deferring Your Mortgage Could Cost You More Down the Road + MORE Jun 4th
Well over 700,000 Canadian homeowners have now taken advantage of various mortgage payment deferral programs offered by most mortgage lenders.
It’s no wonder there’s been so much demand, considering more than three million jobs have been lost across the country since the start of March when the.... More »
RBC’s discount broker launches international trading—what to know before you invest + MORE Dec 10th
RBC Direct Investing recently became the only Canadian bank-owned discount brokerage to allow self-directed investors to buy securities trading internationally on several non-North American stock exchanges. It’s not the only option in Canada for investors, though. Interactive Brokers Canada, for e.... More »
More Canadians are rethinking their bank. Should you? Jul 22nd
Clinton Begin was growing tired of frequent visits to bank branches and calling into the trading desk to check on various transactions. “There (were) a lot of things that just took too much of my time. I was always phoning, always going to visit them. It was always a big deal,” he recalled.
.... More »
The best high-interest savings accounts in Canada for 2024 Jun 7th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Can challengers like EQ Bank and Wealthsimple take on the big banks? Sep 26th
It’s not easy going up against Canada’s banking oligopoly, but some are trying.
Challengers like EQ Bank and Wealthsimple are rolling out new and cheaper offerings, growing their base and gaining brand recognition. But experts say that rather than creating a disruptive threat to the big banks.... More »
Interest rate hike, new mortgage rules may trigger real estate market slowdown
– canadianbusiness.com
TORONTO _ Canada’s real estate market will hit a slow patch in 2018 as tighter mortgage stress tests apply pressure and the impact could be exacerbated if an expected interest rate hike drives buyers to put off their home purchases, economists said Monday.
The Bank of Canada will make its first interest rate announcement of the year on Wednesday. Many observers predict will boost the country’s benchmark rate by 25 points to 1.25 per cent after the economy’s strong performance last year and a particularly strong jobs report from November. If the economy keeps pace, they believe that rate may be bumped up a few more times over 2018.
The suspected hikes could heap stress onto buyers already combating stricter regulations that were introduced by the Office of the Superintendent of Financial Institutions on Jan. 1 for uninsured mortgages, and elevated five-year, fixed mortgage rates that were pushed up by the CIBC, RBC and TD banks last week.
“This is the most significant test the market has seen in recent years,” said Benjamin Tal, CIBC’s chief deputy chief economist…
The Bank of Canada will make its first interest rate announcement of the year on Wednesday. Many observers predict will boost the country’s benchmark rate by 25 points to 1.25 per cent after the economy’s strong performance last year and a particularly strong jobs report from November. If the economy keeps pace, they believe that rate may be bumped up a few more times over 2018.
The suspected hikes could heap stress onto buyers already combating stricter regulations that were introduced by the Office of the Superintendent of Financial Institutions on Jan. 1 for uninsured mortgages, and elevated five-year, fixed mortgage rates that were pushed up by the CIBC, RBC and TD banks last week.
“This is the most significant test the market has seen in recent years,” said Benjamin Tal, CIBC’s chief deputy chief economist…
Rate hike, new mortgage rules may trigger real estate slowdown
– moneysense.ca
TORONTO — Canada’s real estate market will hit a slow patch in 2018 as tighter mortgage stress tests apply pressure and the impact could be exacerbated if an expected interest rate hike drives buyers to put off their home purchases, economists said Monday.
The Bank of Canada will make its first interest rate announcement of the year on Wednesday. Many observers predict will boost the country’s benchmark rate by 25 points to 1.25 per cent after the economy’s strong performance last year and a particularly strong jobs report from November. If the economy keeps pace, they believe that rate may be bumped up a few more times over 2018.
The suspected hikes could heap stress onto buyers already combating stricter regulations that were introduced by the Office of the Superintendent of Financial Institutions on Jan. 1 for uninsured mortgages, and elevated five-year, fixed mortgage rates that were pushed up by the CIBC, RBC and TD banks last week.
READ: Canadian real estate market outlook 2018
“This is the most significant test the market has seen in recent years,” said Benjamin Tal, CIBC’s chief deputy chief economist…
The Bank of Canada will make its first interest rate announcement of the year on Wednesday. Many observers predict will boost the country’s benchmark rate by 25 points to 1.25 per cent after the economy’s strong performance last year and a particularly strong jobs report from November. If the economy keeps pace, they believe that rate may be bumped up a few more times over 2018.
The suspected hikes could heap stress onto buyers already combating stricter regulations that were introduced by the Office of the Superintendent of Financial Institutions on Jan. 1 for uninsured mortgages, and elevated five-year, fixed mortgage rates that were pushed up by the CIBC, RBC and TD banks last week.
READ: Canadian real estate market outlook 2018
“This is the most significant test the market has seen in recent years,” said Benjamin Tal, CIBC’s chief deputy chief economist…
