The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Canada’s best travel credit cards 2022 May 25th
With a good travel credit card in your name, going on a trip can suddenly become more affordable (when you are ready to travel again, of course). And, you can get even more value if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks such as lou.... More »
Generational shift brings competition to Canada’s banks Dec 21st
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Making sense of the markets this week: March 3, 2024 + MORE Mar 2nd
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. And Stephanie Griffiths was an award-winning investor for almost 20 years before returning to her roots in journalism. She is .... More »
Motive Financial Review – Canada’s Best High Interest Savings Account? Jul 18th
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Winnipeggers react to American liquor returning to the shelves - CityNews Winnipeg + MORE Dec 11th
Winnipeggers react to American liquor returning to the shelves CityNews WinnipegSome provinces are selling U.S. booze again — with a holiday twist. Is yours one of them? CBCFord government mulls what to do with blacklisted American booze Toronto StarFord say he’l.... More »
Lower Rates Means Less Stress in the “Stress Test”
– ratesupermarket.ca
Starting now, Canadian mortgage seekers will find it easier to qualify for more money. That’s because the Bank of Canada has dropped its five year benchmark qualifying rate from 5.34 percent to 5.19 percent. This is the rate banks use to qualify would-be-homebuyers for a mortgage.
This is the first time the rate has dropped since September 2016. Since then the rate has only gone higher. The Bank of Canada posted rate is calculated by using the five year fixed rate at the big six commercial banks.
Why this is significant?
Since January 2018, all Canadians, insured and uninsured, shopping for a new mortgage have to pass the so called “stress test.” Previously only those with less than 20 percent down, or insured mortgages, were subjected to an affordability test. Now everyone has to prove they can pay. Formally called, guideline B-20, it was brought in as a tool to better assess if Canadians could afford rates for the long term, especially if rates were to rise.
Housing slowdown
Real estate sales have slowed and prices are lower since the stress test was implemented…
What Are The Most Prestigious Credit Cards in Canada and Do I Want One?
– ratesupermarket.ca
Have you heard of the American Express Centurion Card, aka the “Black Card” or “Titanium Card”? This American Express product is available in many countries around the world, but with a catch: it is invitation only. In Canada, the AMEX Centurion Card has an annual fee of $2,500 and a one-time initiation fee of $5,000. Considered the ultimate in prestige credit cards, the AMEX Centurion Card provides rewards similar to the American Express Platinum card. Perhaps the thrill of being invited to use this exclusive credit card designed for high net-worth, high-earning people is worth its cost.
If you’re interested in a prestigious credit card, it’s wise to review your reasons for wanting one. If you just want to flash the card while dining out, you may want a card that offers excellent dining rewards benefits. If you usually use contactless payment — who will know what type of credit card you have anyway?
What Are Prestigious Credit Cards in Canada Like?
Canadian prestige or high-end credit cards are relatively modest in their reward offerings in comparison to some other world regions…
Lower Rates Means Less Stress in the “Stress Test”
– ratesupermarket.ca
Starting now, Canadian mortgage seekers will find it easier to qualify for more money. That’s because the Bank of Canada has dropped its five year benchmark qualifying rate from 5.34 percent to 5.19 percent. This is the rate banks use to qualify would-be-homebuyers for a mortgage.
This is the first time the rate has dropped since September 2016. Since then the rate has only gone higher. The Bank of Canada posted rate is calculated by using the five year fixed rate at the big six commercial banks.
Why this is significant?
Since January 2018, all Canadians, insured and uninsured, shopping for a new mortgage have to pass the so called “stress test.” Previously only those with less than 20 percent down, or insured mortgages, were subjected to an affordability test. Now everyone has to prove they can pay. Formally called, guideline B-20, it was brought in as a tool to better assess if Canadians could afford rates for the long term, especially if rates were to rise.
Housing slowdown
Real estate sales have slowed and prices are lower since the stress test was implemented…
