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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GICs have a hidden commission Mar 31st
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— Tom
A. There are few universal truths in investing, Tom, but.... More »
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Complaints against banks are on the rise. This is why
– theglobeandmail.com
In the last year couple of years, complaints to third-party agencies that investigate disputes between banks and their clients have risen significantly
Canadian home prices post record February increase
– macleans.ca
(Jonathan Hayward/CP)TORONTO – Canadian home prices posted a record jump for the month of February, fuelled by the Toronto, Hamilton and Vancouver markets.
The Teranet-National Bank national composite house price index gained 1.0 per cent for the month, the largest February increase in the 18-year history of the index.
Toronto soared a record 1.9 per cent, while Hamilton gained 1.4 per cent, also a record increase. Vancouver added 1.4 per cent.
However the story wasn’t the same across the country as seven of the 11 major cities tracked posted a drop for February. Halifax slipped 1.9 per cent, while Calgary fell 1.3 per cent.
Compared with a year earlier, the index was up 13.4 per cent, the largest 12-month increase since 2006.
MORE: How Canada’s big banks pumped up the housing bubble
The year-over-year jump was due to a record 23.0 per cent increase in Toronto and a 19.7 per cent gain in Hamilton, also a record.
National Bank senior economist Marc Pinsonneault said the Toronto market was “especially worrisome…
