City hall is banking on Toronto’s real estate market picking up in 2026. What’s behind their optimism? + MORE Jan 11th
The best rewards credit cards in Canada for 2025 Nov 10th
Musk's SpaceX prices record $75 billion IPO at $135 a share - Reuters + MORE Jun 11th
A practical guide to investing at every life stage Feb 3rd
The return of The Wealthy Barber Nov 11th
How much income do you need to buy a home in Canada? A look at housing affordability in May 2025
– moneysense.ca
The latest data from the Canadian Real Estate Association revealed that, after six months of declines, sales firmed up between April and May, increasing 3.6%. While still early days, the uptick in activity has prompted optimism from the national board that home buyers have come to terms with tariff-imposed uncertainty, and are finally coming off the sidelines.
That increase had led to rising average home prices in a number of Canadian markets, the likes of which are already eroding mortgage borrowing conditions, according to the latest Affordability report released by Ratehub.ca. This monthly snapshot of markets across Canada found affordability worsened in eight of 13 major urban centres.The study, which uses national real estate data, changes to mortgages rates, and the mortgage stress test rate, defines affordability by the amount of income a buyer would need to earn to qualify for a mortgage on the average-priced home in their market, along with changes to monthly mortgage payments…
RRIF and LIF withdrawal rates: Everything you need to know
– moneysense.ca
At some point, a registered retirement savings plan (RRSP) is typically converted to a registered retirement income fund (RRIF). The latest you can defer the conversion of your RRSP to a RRIF is the end of the year you turn 71. This means that by December 31 of your 71st year, you need to either withdraw the full balance of your RRSP and pay tax on it, use the account to purchase an annuity from an insurance company, or convert it to a RRIF. Most Canadians choose to convert their RRSP to a RRIF.
You do not have to wait until age 71 to convert your RRSP. Most people consider doing so once they have retired.
There are no penalties for withdrawing from your RRSP or RRIF before a certain age. Withdrawals are taxable as income other than exceptions for purchasing a first home using the Home Buyers’ Plan (HBP) or paying for eligible post-secondary education using the Lifelong Learning Plan (LLP).
RRIF withdrawal rates
The minimum age at which you can convert an RRSP to a RRIF varies by province…
The best GIC rates in Canada for 2025
– moneysense.ca
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.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
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Highest GIC rates in Canada
Banks, credit unions, trust companies and discount brokerages all offer GICs. Below, you’ll find the best rates available from a variety of financial institutions, including credit unions and Canada’s Big Six banks. The rates listed are for non-redeemable GICs held in non-registered accounts—the most popular type of GIC in Canada…
The best high-interest savings accounts in Canada for 2025
– moneysense.ca
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.
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Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
Best high-interest savings account rates in Canada
Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…
