Learn more about Canada’s top banks rates, rules and the latest news – read on!
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Stocks set to advance on Fed reassurances, traders look to solid run of bank earnings Aug 24th
TORONTO – Stock markets look set to gain ground this week after traders got some reassurance from the Federal Reserve last week on interest rates.
The Toronto market could find some lift from the financial sector after Royal Bank (TSX:RY) on Friday kicked off the quarterly earnings season for .... More »
The best high-interest savings accounts in Canada for 2024 + MORE Jul 18th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Canada’s best Mastercard credit cards for 2022 Jun 7th
As one of the top credit card companies in the world, Mastercard is extremely popular and also widely accepted. For those already banking at BMO Bank of Montreal, a major Canadian bank that’s associated with Mastercard, these cards may offer all the perks you’re after, along with opportunities t.... More »
Three Things to Expect from Rising Interest Rates in 2019 + MORE Dec 19th
Are they going to increase? By how much? And how will that affect me?
As we reflect on the past year, one of the big money stories everyone is talking about is the rise of the key interest rate. In 2018, the Bank of Canada (BoC) raised the overnight lending rate three times from 1.00 per cent to 1.... More »
Mortgage broker vs. bank—which will save you more money? + MORE Jun 1st
Choosing a mortgage broker or a bank for your home loan will likely influence which mortgage you end up with. On top of that, there are pluses and minuses to both, as we detail in the table below. Before we dive into which may best suit your financial situation, let’s look at the differences betwe.... More »
TORONTO – A move by Royal Bank to slightly decrease its fixed mortgage rates may have would-be homeowners wondering whether other banks may follow suit.
RBC cuts mortgage rates, don’t expect others to follow suit
– moneysense.ca
TORONTO – A move by Royal Bank to slightly decrease its fixed mortgage rates may have would-be homeowners wondering whether other banks may follow suit.
But one expert says that while that’s a possibility, it’s also not the most important question people should be asking.
RBC (TSX:RY) quietly lowered its rates on several fixed-rate mortgages by 10 basis points over the weekend. It was a small drop to the discounted rate offered by the bank until the end of the month, but one that went against the general trend of rising rates.
Jason Scott, a mortgage broker with The Mortgage Group in Edmonton, says a push to lower rates as big lenders compete for mortgages in the important spring market is possible, but the change simply brings RBC closer to those already being offered by some other lenders.
He also points out that this latest change is unlikely to have the effect major cuts have had in a past — like when the Bank of Montreal lowered its five-year rate to 2.99 per cent and created a price war…
But one expert says that while that’s a possibility, it’s also not the most important question people should be asking.
RBC (TSX:RY) quietly lowered its rates on several fixed-rate mortgages by 10 basis points over the weekend. It was a small drop to the discounted rate offered by the bank until the end of the month, but one that went against the general trend of rising rates.
Jason Scott, a mortgage broker with The Mortgage Group in Edmonton, says a push to lower rates as big lenders compete for mortgages in the important spring market is possible, but the change simply brings RBC closer to those already being offered by some other lenders.
He also points out that this latest change is unlikely to have the effect major cuts have had in a past — like when the Bank of Montreal lowered its five-year rate to 2.99 per cent and created a price war…
