The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Feds want do-over of Beanie Baby creator’s sentencing, say Ty Warner should serve prison time May 10th
CHICAGO – Prosecutors say a judge erred by letting the billionaire creator of Beanie Babies off with no prison time for hiding millions from U.S. tax authorities in Swiss banks. They want the U.S. 7th Circuit Court of Appeals in Chicago to order that he be resentenced.
They argue in an appeal .... More »
HISAs vs. bonds and GICs: Where should Canadians hold their cash? Jan 10th
“Bonds are back,” you may have read on a financial news site or heard a financial advisor say recently. True enough, money is flowing into these fixed-income investments at the highest rate in years, and for good reasons.
In fact, Canadian savers have an abundance of good choices right now f.... More »
The best Visa credit cards in Canada for August 2023 Sep 1st
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The best Visa credit cards in Canada for August 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Making sense of the markets this week: April 5, 2021 Apr 5th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Serious concerns over the Canadian housing bubble
BMO has sounded the alarm with strong warnings about what many are calling a housing bubble in Canada. In fact, it’s on fir.... More »
A Review of Tangerine Investment Funds: Do They Measure Up? Aug 19th
With more and more Canadians moving towards low-fee investing options, banks and investment companies have had to step up their game, to deliver products that provide the right mix between price and performance.
In this review of Tangerine mutual funds, I’ll take a look at how one of Canada’s le.... More »
TORONTO – Finance Minister Joe Oliver says he will keep a close eye on the Canadian housing market after the Bank of Montreal pulled back a key mortgage rate to levels that had left his predecessor feeling uneasy.
“Our government has taken action in the past to reduce consumer indebtedness and the government’s exposure to the housing market,” Oliver said in an emailed statement on Thursday.
“I will continue to monitor the market closely.”
Bank of Montreal (TSX:BMO) moved late Wednesday to lower its five-year fixed-rate mortgage to 2.99 per cent, down from 3.49 per cent.
It’s the first big bank to lower the key rate beneath three per cent, a level that caused then-finance minister Jim Flaherty to publicly chide BMO in March 2013, saying that he disapproved of the rate and discouraged other big banks from following its lead.
At the time Flaherty said he believed in “responsible lending,” and that he was concerned such low rates would work against his attempts to slow the momentum in the housing market…
“Our government has taken action in the past to reduce consumer indebtedness and the government’s exposure to the housing market,” Oliver said in an emailed statement on Thursday.
“I will continue to monitor the market closely.”
Bank of Montreal (TSX:BMO) moved late Wednesday to lower its five-year fixed-rate mortgage to 2.99 per cent, down from 3.49 per cent.
It’s the first big bank to lower the key rate beneath three per cent, a level that caused then-finance minister Jim Flaherty to publicly chide BMO in March 2013, saying that he disapproved of the rate and discouraged other big banks from following its lead.
At the time Flaherty said he believed in “responsible lending,” and that he was concerned such low rates would work against his attempts to slow the momentum in the housing market…
Banks Might Not Get Scolded on Mortgage-Rate Cuts this Time
– blogs.wsj.com
Canada’s big banks are pushing mortgage rates lower again, but Finance Minister Joe Oliver has not responded strongly. He has some reasons for staying on the sidelines.
Russia’s President Vladimir Putin said Thursday that Russia will set up its own payment system to rival Visa and MasterCard after the companies pulled their services from several banks in the wake of the sanctions imposed on the country.
