How to go about securing the best return for your investment in Canada.
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What does a weak Canadian dollar mean for your savings? + MORE Feb 25th
It’s the financial news story that everyone is talking about: The Canadian-to-U.S.-dollar exchange rate has been very unfavourable for the loonie lately.
How unfavourable? Since the beginning of the year, the Canadian dollar’s trading value has fluctuated between roughly USD$0.69 and $0.70—.... More »
How to fund accessible home renovations in Canada + MORE Jul 5th
My house, as I told my insurance broker recently, is the Canadian housing equivalent of ancient. Built in the 1910s in Saskatoon, this house has many foibles. To hang pictures, I have to use wood screws lest regular nails bounce off of the layers and layers of paint. My basement is a little more tha.... More »
Ski-Doo maker BRP reports Q4 earnings, delays financial forecast + MORE Mar 27th
Economic uncertainty stirred up by whipsawing U.S. tariff threats prompted BRP Inc. to push back its financial forecast for the coming year, with the trade limbo exacerbating weak consumer demand that drove the Ski-Doo maker to an earnings loss last quarter.
“There’s still the uncer.... More »
Who pays tax on cash gifts in Canada? Mar 19th
Ask MoneySense
Is there a tax on cash gifts to children in Ontario?
—Virginia
Tax on gifts and loans to children in Canada
When you give cash to a child, Virginia, there are generally no tax implications for the recipient. They do not have to worry about paying tax on it, no matter where.... More »
Making sense of the markets this week: August 4, 2024 Aug 2nd
Michael McCullough is a contributing editor to MoneySense and a financial writer and editor in Duncan, B.C.
Mixed results for Magnificent 7
The narrative around the Magnificent 7 mega-cap technology stocks has become mixed, even in the face of mostly positive earnings news.
Microsoft .... More »
If you have a mortgage on your home or have been trying to break into the housing market, you’ve probably watched interest rates go up, up, up over the past two years. Both fixed and variable mortgage rates have been higher than any other time in recent memory, leading many new home buyers and existing mortgage holders to choose fixed rates to avoid further increases. These rate hikes have also wreaked havoc for many home owners who locked into variable rate mortgages before rates started climbing, causing their monthly payments to skyrocket.
It’s been a tough time for home owners (and first-time home buyers), but the Bank of Canada (BoC) has held interest rates steady since July 2023, and the latest economic data is leading experts to suggest that interest rate cuts may be on the horizon. So, what can Canadians expect from interest rates in the months and years ahead, and what does that mean for fixed mortgage rates and variable mortgage rates? We spoke to an economist and a mortgage broker to get a better sense of what’s ahead, and whether a fixed or variable rate is your best option in 2024…
