Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
American Express Increases the Value of Points for Purchases Jun 3rd
For a limited time, American Express is offering consumer cardmembers more value for Points for Purchases. From April 17, until September 30, 2020, cardholders can use 1,000 points for a $10 statement credit on all eligible non-travel related purchases. That means Membership Rewards points are curr.... More »
Simplii, Tangerine, Motusbank – Who Are These “New” Players? + MORE Apr 24th
You’ve seen those ads show up more and more the past few years: financial institutions who offer a new way of banking. But do those flashy logos hide something you already know? Many of these businesses are owned by traditional Canadian banks. The industry is tightly regulated, but you.... More »
Housing affordability: What happens when lower home prices take on higher borrowing costs? Sep 6th
Canadian home prices are falling. Borrowing costs are increasing at an incredible rate. It’s the battle royale of home ownership affordability: Will wannabe home owners benefit from the real estate market correction, or will their dreams be crushed by the rising mortgage costs that are causing it?.... More »
In-branch tellers bear the brunt of RBC cost cuts Sep 7th
Banks are cutting costs as they deal with slowing revenue growth, low interest rates and tapped-out borrowers
.... More »
Italy merges two banks in bid to prop up struggling sector Oct 17th
New lender Banco BPM will become country’s third-largest; PM aims to boost confidence ahead of December referendum on constitutional reform
.... More »
Lenders Call a Truce on Spring Mortgage Rate Wars
– ratesupermarket.ca
April historically marks an uptick in mortgage price competition as brokers and banks march out their most attractive interest rates – but with today’s fixed and variable rates already at record lows, lenders are engaging in fewer price skirmishes. However, spring mortgage borrowers are sure to be laughing all the way to the bank as low bond yields have pushed fixed rates far below last year’s discounts, and no move is expected from the Bank of Canada on the national cost of borrowing.
Click here for the best mortgage rates in Canada>
Fixed Mortgage Rates: Unchanged
Remember when the 2.99-five-year-fixed whipped the market into a frenzy? It was just a few seasons ago, but the days of frantic basis-point buybacks seem long past. With today’s most competitive five-year fixed offerings hovering around the 2.30% mark for months – a mere 20 basis-point difference from today’s lowest variable options – lenders are taking a more relaxed approach to their spring pricing.
Bond yields, which have stayed stagnant and below the 1% threshold, are to blame for the lack of mortgage price movement and will stay at status quo; The U…
Click here for the best mortgage rates in Canada>
Fixed Mortgage Rates: Unchanged
Remember when the 2.99-five-year-fixed whipped the market into a frenzy? It was just a few seasons ago, but the days of frantic basis-point buybacks seem long past. With today’s most competitive five-year fixed offerings hovering around the 2.30% mark for months – a mere 20 basis-point difference from today’s lowest variable options – lenders are taking a more relaxed approach to their spring pricing.
Bond yields, which have stayed stagnant and below the 1% threshold, are to blame for the lack of mortgage price movement and will stay at status quo; The U…
Lenders Call a Truce on Spring Mortgage Rate Wars
– ratesupermarket.ca
April historically marks an uptick in mortgage price competition as brokers and banks march out their most attractive interest rates – but with today’s fixed and variable rates already at record lows, lenders are engaging in fewer price skirmishes. However, spring mortgage borrowers are sure to be laughing all the way to the bank as low bond yields have pushed fixed rates far below last year’s discounts, and no move is expected from the Bank of Canada on the national cost of borrowing.
Click here for the best mortgage rates in Canada>
Fixed Mortgage Rates: Unchanged
Remember when the 2.99-five-year-fixed whipped the market into a frenzy? It was just a few seasons ago, but the days of frantic basis-point buybacks seem long past. With today’s most competitive five-year fixed offerings hovering around the 2.30% mark for months – a mere 20 basis-point difference from today’s lowest variable options – lenders are taking a more relaxed approach to their spring pricing.
Bond yields, which have stayed stagnant and below the 1% threshold, are to blame for the lack of mortgage price movement and will stay at status quo; The U…
Click here for the best mortgage rates in Canada>
Fixed Mortgage Rates: Unchanged
Remember when the 2.99-five-year-fixed whipped the market into a frenzy? It was just a few seasons ago, but the days of frantic basis-point buybacks seem long past. With today’s most competitive five-year fixed offerings hovering around the 2.30% mark for months – a mere 20 basis-point difference from today’s lowest variable options – lenders are taking a more relaxed approach to their spring pricing.
Bond yields, which have stayed stagnant and below the 1% threshold, are to blame for the lack of mortgage price movement and will stay at status quo; The U…
Bill Downe, CEO of BMO Financial Group, speaks at the company’s annual meeting in Toronto on April 1, 2014. (Michelle Siu/CP)TORONTO – The Bank of Montreal’s CEO is defending the Canadian banking sector’s anti-money laundering practices following reports linking a major Canadian financial institution to a Panamanian law firm at the centre of a data leak on the use of offshore tax havens.
Bill Downe says Canadian banks have “dramatically” beefed up their anti-money laundering controls over the last seven to 10 years at the request of various governments around the world.
“I would say that the current Bank Secrecy Act anti-money laundering provisions, particularly involving U.S. dollar accounts, are extremely robust,” Downe said in an interview following the bank’s annual shareholder meeting in Toronto on Tuesday.
He added that if any violations do emerge from documents leaked from the law firm Mossack Fonseca, he suspects they will be in relation to business that originated a long time ago — before the big push by the banks to bolster their anti-money laundering practices…
Kicking the Oil Business When It's Down
– online.wsj.com
Rising regulatory scrutiny of banks that lend to energy companies is tightening the screws on fossil fuels.
