Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
When Banks Bailed Out the Government Aug 4th
Citigroup is ‘too big to fail.’ Its predecessor was once responsible enough to weather a panic..... More »
Watch: What is the mortgage stress test? Mar 3rd
If you’ve purchased a home in the last several years, or plan to buy one soon, there’s a good chance you’ve heard about the mortgage stress test. Since 2018, the stress test has served as a set of rules banks and lenders use to determine if you qualify for the mortgage you want. It’s possibl.... More »
Canadians collectively owe $1.8 trillion in household debt + MORE Mar 13th
TORONTO _ Canadians’ collective household debt has climbed to $1.8 trillion as an international financial group sounds an early warning that the country’s banking system is at risk from rising debt levels.
Equifax Canada says consumers now owe $1.821 trillion including mortgages as of th.... More »
Preview of Banks' Q3 2017 Earnings + MORE Aug 22nd
Scotia Capital, 21 August 2017
• Despite the favourable combination of strong operating performance (13% YoY EPS growth in 1H/17) and a resurgent domestic economy that underpinned the first rate hike from the BoC in seven years, Canadian bank stocks have run in place for much of 2017, with the TSX.... More »
Is now the time for retirees to sell stocks and buy GICs? Mar 4th
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
Are GICs a good.... More »
How To Reduce Holiday Spending Stress
– ratesupermarket.ca
It’s no surprise Canadians become anxious over money during the holiday season. A new survey by President’s Choice Financial finds 41 per cent of us get stressed out during this time, trying to stay on budget and shopping for gifts. “While most of us love the holidays, our bank accounts take a hit during this time,” says Barry Columb, president of PC Financial.
But careful planning and a creative strategy can work wonders on stress levels. Here’s how to manage yours (and your wallet), this holiday season.
Dig Up Those Rewards
More than 80 per cent of shoppers carry some type of loyalty or rewards credit card. These cards, when used properly, can save consumers hundreds of dollars. Many reward programs offer merchandise that can be used as Christmas gifts. In the President’s Choice Financial survey, more than 46 per cent of people planned on using reward points to help stay on budget. Start by checking the balance of each and every reward card you’re carrying…
5 Ways To Cure Your Spending Hangover
– ratesupermarket.ca
Did you spend ALL of the money during the Black Friday and Cyber Monday holiday rush? Here’s the best tips to cure (and possibly prevent) your spending hangover.
#1 – Pay No Interest
The average Canadian spends $1,810 on the holidays. If you were to carry that balance on a credit card, you’d be stuck with an additional bill of $400 in interest.Ouch.
Tip – Transfer Your Balance
Consider switching to a low balance transfer product. RateSupermarket.ca is currently featuring a 0 per cent interest rate on balance transfers plus you get a FREE $100 Gift Card upon approval. Learn More >
#2 – Make a List
Make a list of everyone you need to buy for this holiday season and set a budget. This will prevent you from being tempted to go overboard, and will also allow you to set a realistic expectation of your spending.
Tip – Use an Online List to Keep Yourself Organized
If you’re shopping with a partner, consider using an online tool like Wunderlist to keep you both organized…
C-Suite Shuffle Continues for Canada’s Big Banks
– blogs.wsj.com
The movement in Bay Street’s corner offices continues apace with news Thursday that Gordon Nixon will retire as CEO of Royal Bank of Canada in August.
Canada Stocks to Watch: Barrick, Banks, Dollarama and Enbridge
– blogs.wsj.com
Canadian banks are on our radar Thursday, with fourth-quarter reports from three of the country’s biggest lenders.We’re also watching Barrick, Dollarama and Enbridge.
