Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Greece’s forced 3-week bank closure ends Monday but restrictions on withdrawing cash remain + MORE Jul 19th
ATHENS, Greece – Greek banks are reopening Monday after a forced 3-week closure but restrictions on cash withdrawals will remain.
In a decree Saturday, the Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit. For example, a depositor who doesn’.... More »
Fort McMurray resident flees flood by boat: 'It brought back all those wildfire memories' - Global News + MORE Apr 27th
Fort McMurray resident flees flood by boat: 'It brought back all those wildfire memories' Global NewsEvacuation order issued due to flooding in the Fort McMurray area CTV News EdmontonEvacuations ordered in Fort Vermilion as Peace River breaches banks Global NewsMili.... More »
77,000 foreign banks agree to share account information with IRS in tax evasion crack down + MORE Jun 2nd
WASHINGTON – More than 77,000 foreign banks have agreed to share information about U.S. account holders as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.
The list includes 515 Russian financial institutions. Russian banks had to apply directly to the Internal.... More »
The best no-fee credit cards in Canada for 2024 May 17th
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The best no-fee credit cards in Canada for 2024
From cash back to rewards points (and perks like no foreign transaction fees), here's a list of Canada's best no fee cards.
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BOJ’s Kuroda warns low rates may sow seeds of new financial crisis Feb 16th
Bank of Japan Governor offers his strongest warning to date of the demerits of aggressive monetary easing pursued by major central banks
.... More »
RBC Hikes Discounted and Posted Fixed Mortgage Rates
– ratesupermarket.ca
Royal Bank of Canada is the latest lender to hike its fixed mortgage rates, applying a 20 to 30 basis point increase to a number of its special offer and posted offerings.
Effective Thursday, August 22, RBC’s rates will be as follows:
Discounted rates:
four-year fixed: 3.59 per cent (+20)
five-year fixed: 3.89 (+20)
seven-year fixed: 4.19 (+20)
10-year fixed: 4.59 (+30)
Posted rates:
three-year fixed: 3.95 (+20)
four-year fixed: 4.74 (+20)
five-year fixed: 5.34 (+20)
Why Are Mortgage Rates Going Up?
Mortgage rates have been on an upward trajectory over the summer months, as a tightening government bond market and new CMHC restrictions have shrunk funding options for banks. As a result, the higher costs facing lenders are being passed down to the customer in the form of higher rates.
Bond yields, which indicate the level of investor interest in the Canadian economy, and are directly linked to fixed mortgage rate levels, continue to reach new highs. As of today, five-year bonds are yielding 1…
RBC Hikes Discounted and Posted Fixed Mortgage Rates
– ratesupermarket.ca
Royal Bank of Canada is the latest lender to hike its fixed mortgage rates, applying a 20 to 30 basis point increase to a number of its special offer and posted offerings.
Effective Thursday, August 22, RBC’s rates will be as follows:
Discounted rates:
four-year fixed: 3.59 per cent (+20)
five-year fixed: 3.89 (+20)
seven-year fixed: 4.19 (+20)
10-year fixed: 4.59 (+30)
Posted rates:
three-year fixed: 3.95 (+20)
four-year fixed: 4.74 (+20)
five-year fixed: 5.34 (+20)
Why Are Mortgage Rates Going Up?
Mortgage rates have been on an upward trajectory over the summer months, as a tightening government bond market and new CMHC restrictions have shrunk funding options for banks. As a result, the higher costs facing lenders are being passed down to the customer in the form of higher rates.
Bond yields, which indicate the level of investor interest in the Canadian economy, and are directly linked to fixed mortgage rate levels, continue to reach new highs. As of today, five-year bonds are yielding 1…
