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Latest News
The GIC Laddering Strategy: Reach for Returns with Safety Jun 20th
When you save for retirement through investing, you have two main goals: to grow your money but also to protect what you put in from being wiped out.
So, for most people, it makes sense to put a portion of their money into fixed-income products that keep their principal safe and provide a steady s.... More »
A guide to the best robo-advisors in Canada for 2021 + MORE Jan 3rd
The robos have invaded. What was once a little-known investing tool for tech-savvy investors is now so commonplace, everyone from newbie savers to retired boomers using robo advisors to help manage their money.
While advisors and traditional fund companies still manage the majority of money in C.... More »
Canada’s Best Travel Credit Cards 2019 + MORE Mar 4th
With a good travel credit card, travel suddenly becomes affordable. And it helps if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks like companion flights, amazing insurance coverage and flexibility with transferring points between cards.
Th.... More »
Where to find and apply for COVID-19 financial relief Aug 23rd
The COVID-19 outbreak has dealt a shock to our economy, shuttering entire industries and leaving many more businesses in limbo, forcing layoffs and loss of income on many people. Fortunately, the Canadian government and several other institutions are offering financial relief for Canadians during th.... More »
How GreenShield+ Will Revolutionize Canada’s Health Care and Benefits Experience Apr 14th
Imagine it’s a Monday morning and you’ve woken up with a fever and a pounding headache. Instead of waiting in line at a nearby walk-in clinic, you reach for your phone, open an app and connect with a doctor in a matter of minutes. Do you require medication? Imagine receiving a prescription in re.... More »
NEW CMHC Restrictions: New Rules for Low Ratio Mortgages
– ratesupermarket.ca
It seems hardly a week goes by this spring without a new announcement from Canada Mortgage and Housing Corporation – another slew of changes were announced today, targeting multi-unit developers and low-ratio mortgage borrowers.
What are the New Changes for Mortgage Borrowers?
As of July 31, low-ratio mortgage borrowers who take out CMHC insurance will be subjected to the same restrictions as high-ratio borrowers. These include:
A maximum home price of $1 million
An amortization cap of 25 years
Debt-to-income requirements: 39 per cent for Gross Debt Service and 44 per cent for Total Debt Service ratios, respectively.
The group affected are home buyers who pay more than 19.99 per cent down on their mortgage, and who also choose (or their lender chooses) to take out additional insurance to securitize the mortgage, further limit risk, or help with capital requirements. This insurance, however, is optional unlike high-ratio mortgage insurance, which is required by law for any buyer paying less than 19…
Credit Card Review: RBC Visa Infinite Avion
– ratesupermarket.ca
If you’re on the market for a high quality travel rewards option, the RBC Avion has likely crossed your radar. RBC’s flagship card packs a big sign up punch, offering 15,000 bonus points upon first purchase, and extensive travel benefits and insurance.
RBC’s biggest selling point is the instant opportunity to fly, as their sign up bonus qualifies for a short-haul flight. However, its one-for-one earning potential and flexible redemption process make it a decent everyday option, long after that initial flight. Check out our breakdown of what’s great – and not so great – about this travel rewards card, and whether it’s a good fit for your wallet.
Note: This is a Visa Infinite Tier card – cardholders must have a good credit score to qualify, personal income requirements of $60,000 or a total family income of $100,000. Cardholders also have access to Visa Infinite benefits, including a 24-hour daily concierge, plus discounts and offers on dining and entertainment…
