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TD Bank joins RBC in hiking mortgage rates, more banks expected to follow suit Nov 17th
TD Bank has quietly increased its fixed mortgage rates ahead of a similar move by Royal Bank of Canada to take effect Thursday..... 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 »
#5: Brane Inc. Feb 7th
In the unpredictable world of cryptocurrency, Brane has become a safe haven. The financial-technology company’s mission is to demystify the confusing and ever-changing landscape of digital assets—blockchain, crypto and non-fungible tokens included—for its largely conservative clientele.
Sin.... More »
The best high-interest savings accounts in Canada for 2024 + MORE Dec 3rd
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Fort McMurray resident flees flood by boat: 'It brought back all those wildfire memories' - Global News + MORE Apr 27th
Fort McMurray resident flees flood by boat: 'It brought back all those wildfire memories' Global NewsEvacuation order issued due to flooding in the Fort McMurray area CTV News EdmontonEvacuations ordered in Fort Vermilion as Peace River breaches banks Global NewsMili.... More »
(AP Photo/Pablo Martinez Monsivais)HAVANA — The Obama administration on Tuesday loosened rules on travel to Cuba and the Cuban government’s use of the dollar, removing obstacles to closer ties between the two countries five days before President Barack Obama makes a historic trip to Havana.
The administration announced Tuesday that Americans can now take “people-to-people” trips to Cuba on their own instead of on expensive group tours. That means any American can legally go to Cuba as long as they fill out a form asserting that their trip was for educational purposes instead of tourism. The measure is expected to help fill demand for commercial flights that U.S. airlines hope to launch in coming months.
The new measures also allow U.S. banks to process Cuban government transactions that pass even momentarily through the U.S. banking system. A ban on those transactions crippled Cuba’s ability to buy and sell goods internationally and become one of Cuba’s biggest complaints about the U…
As conditions get tougher for Canada’s banks they’re looking everywhere for revenues, including basic fees. Here are some tips to keep yours down.The Canadian Debt-to-Income Ratio Hits 165%
– ratesupermarket.ca
The latest household debt stats have been released by Statistics Canada – and they reveal a trend of persistent consumer and mortgage borrowing across the nation. The average debt-to-income ratio hit 165 per cent in the fourth quarter of 2015, up from 164 per cent in the previous quarter. That means the average Canadian now owes $1.65 for every dollar they earn after taxes.
Total debt, including consumer credit and non-mortgage and mortgage-based loans, grew 1.2 per cent to $1.923 trillion at the end of last year – but a whopping 1.262 trillion of that can be attributed to mortgages.
This follows a report from TransUnion that finds the average Canadian credit card balance has hit $3,610 – a three-year high.
Cheap Borrowing to Blame
It’s not surprising debt – and particularly mortgage borrowing – continues to grow in Canada; consumers have been spurred to borrow by the central bank for several years, as record low interest rates have been the norm. The Bank of Canada (BoC) cut the cost of borrowing to 0…
