Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
The best charities in Canada for 2024: Where to donate to make an impact Nov 13th
Donating to charities this year seems like a squeeze. Canadians face incredibly high expenses these days. It’s an affordability crisis, whether we’re talking housing, groceries or pretty much any other cost of living. The impact is severe.
In March 2024, Canadian food banks had more than 2 mi.... More »
Bank of Canada may lose billions in coming years, think tank warns - CBC News + MORE Jan 12th
Bank of Canada may lose billions in coming years, think tank warns CBC NewsOpinion: The Bank of Canada's millions in balance-sheet losses are only the beginning The Globe and MailPosthaste: Bank of Canada could lose up to $8.8 billion over next few years: report Fina.... More »
Why Hollywood Celebrities Are Petitioning Against a Canadian Bank Mar 23rd
Royal Bank of Canada’s financial support for the Coastal GasLink pipeline is generating some star-studded opposition.
More than 65 celebrities, including award-winning actors, directors and musicians, have joined Indigenous climate activists in signing a petition calling on RBC and its subsidia.... More »
The best bank accounts for students in Canada 2020 Apr 10th
Table of contents
The best bank accounts for students in Canada
The best online bank accounts for students in Canada
What is a student bank account?
What do you need to open a student bank account?
How to choose the best student bank account for you
With the cost of tuition and books—not t.... More »
How to Read Your Credit Report May 30th
Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
Looking Beyond the Big Banks: How Playing the Mortgage Field Could Save You Thousands
– ratesupermarket.ca
When it comes to your mortgage, there’s no need to settle for the most obvious options. When the time comes to buy a house, most Canadians rely on only the ‘big six’ banks to find a competitive interest rate. An HSBC study from last year shows Canadians are among the least likely to say they’ve looked around for a better mortgage. But just as you wouldn’t buy the first house you saw, you shouldn’t stick with your family-legacy bank at mortgage time ‘just because.’
Our research at Ratesupermarket.ca shows that alternatives to Canada’s ‘big six’ banks often offer much lower mortgage rates. These alternatives can include brokers and small lenders, many of whom are often more competitive.
For example, looking at a five-year fixed mortgage in the Toronto market and using Ratesupermarket’s online mortgage comparison tool, Sigma Mortgage (a team of mortgage brokers) is offering a 3.29 per cent interest rate, while an alternative bank, such as Tangerine, offers 3…
Looking Beyond the Big Banks: How Playing the Mortgage Field Could Save You Thousands
– ratesupermarket.ca
When it comes to your mortgage, there’s no need to settle for the most obvious options. When the time comes to buy a house, most Canadians rely on only the ‘big six’ banks to find a competitive interest rate. An HSBC study from last year shows Canadians are among the least likely to say they’ve looked around for a better mortgage. But just as you wouldn’t buy the first house you saw, you shouldn’t stick with your family-legacy bank at mortgage time ‘just because.’
Our research at Ratesupermarket.ca shows that alternatives to Canada’s ‘big six’ banks often offer much lower mortgage rates. These alternatives can include brokers and small lenders, many of whom are often more competitive.
For example, looking at a five-year fixed mortgage in the Toronto market and using Ratesupermarket’s online mortgage comparison tool, Sigma Mortgage (a team of mortgage brokers) is offering a 3.29 per cent interest rate, while an alternative bank, such as Tangerine, offers 3…
BMO SmartFolio Review: A Robo-Advisor Option from a Bank You Know
– canadianfinanceblog.com
For years, most investors had to choose between two polar opposites on the investment spectrum: DIY investing and high-cost mutual funds. There was no middle ground. This left many investors frustrated. There had to be a better way and thankfully now there is.
Robo-advisors offer the best of both worlds: investment advice at a low-cost with a human touch. Robo-advisors have been a hit in the U.S. for years and are beginning to catch-on in Canada. Unlike their US and UK peers though, in Canada this term encompasses many different services but all must be monitored and managed by a portfolio management group not a computer algorithm.
Up until 2016 the robo-advising space was just fintech startups like Wealthsimple and Justwealth. Although these are great firms, without the name recognition of the big banks that Canadians trust and love so much, some people hesitated to invest with robo-advisors. Thankfully, a big Canadian bank, BMO stepped up to the plate, with its excellent SmartFolio investing service offered by BMO Nesbitt Burns…
Robo-advisors offer the best of both worlds: investment advice at a low-cost with a human touch. Robo-advisors have been a hit in the U.S. for years and are beginning to catch-on in Canada. Unlike their US and UK peers though, in Canada this term encompasses many different services but all must be monitored and managed by a portfolio management group not a computer algorithm.
Up until 2016 the robo-advising space was just fintech startups like Wealthsimple and Justwealth. Although these are great firms, without the name recognition of the big banks that Canadians trust and love so much, some people hesitated to invest with robo-advisors. Thankfully, a big Canadian bank, BMO stepped up to the plate, with its excellent SmartFolio investing service offered by BMO Nesbitt Burns…
