Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
One of the last men out of Fort McMurray May 6th
Roy Powell of Fort McMurray arrives at the Bold Centre in Lac La Biche, AB after being evacuated from fires that have taken over northern Alberta on Wednesday, May 04, 2016 . (Photograph by Chris Bolin)
The afternoon after an entire city of more than 80,000 people cleared out, Fort McMurray reeked o.... More »
Where to find yield in 2015 + MORE Jan 5th
(Photograph by Raina + Wilson)
Short-term GICs and savings accounts
Approx. yield risk
1% – 2%
If you want safety without locking in for the long term and you’re willing to put up with minimal yields, go for variable or short-term investments with negligible credit risk. Two common options a.... More »
Leave Your Card At Home With The Latest Mobile Wallets + MORE Jan 30th
We’re getting closer and closer to the day where our smartphones really can do it all. On-the-go payments are now a reality, thanks to mobile wallet and instant payment options from Canada’s biggest banks.
Ready to leave your cards at home? Check out our roundup of mobile payment options belo.... More »
What is a Credit Union? + MORE Sep 16th
For most Canadians, financial institutions come in two forms: a bricks-and-mortar bank, or the online version of the same thing. But for many, particularly in Quebec and western Canada, there’s an alternative option: credit unions.
Origin of the Credit Union
At the beginning of the 20th century, .... More »
Of government and golf courses: Mulroney’s East Coast experiment, 30 years later Dec 11th
HALIFAX _ Ben Cowan-Dewar was a bright-eyed 25-year-old entrepreneur when he visited Inverness, N.S., and saw a jaw-dropping landscape fit for a luxury golf course.
Past the abandoned mines and hardscrabble edges of the Cape Breton village, he envisioned a boutique 18-hole course and upscale resort .... More »
Tighter Lending Rules Mean Better Credit Card Options for Consumers
– ratesupermarket.ca
Consumers look to cash in over the next several months, as a softening housing market spurs banks to shift their focus to credit cards as a larger source of lender income.
Mortgage lending is traditionally the largest source of banks’ funding – and while it continues to be the main breadwinner, recent restrictions to cool the markets are now being felt in bank coffers.
These market changes include a recently imposed monthly cap on mortgage guarantees at $350 million for each mortgage lender. As the spread of mortgages narrows and becomes less attractive, banks look to make up the lost profit through credit cards.
Credit Cards Mean Easier, Faster Profits
Although credit cards have a higher default rate, they offer the opportunity for a higher profit margin. As the saying goes – the higher the risk, the higher the reward. Consumer debt has skyrocketed over past several quarters, fueled by ultra-low interest rates. The debt-to-income ratio hit a record 163 per cent in the third quarter of 2012, before falling slightly to 162 per cent in the most recent quarter, according to Statistics Canada…
Tighter Lending Rules Mean Better Credit Card Options for Consumers
– ratesupermarket.ca
Consumers look to cash in over the next several months, as a softening housing market spurs banks to shift their focus to credit cards as a larger source of lender income.
Mortgage lending is traditionally the largest source of banks’ funding – and while it continues to be the main breadwinner, recent restrictions to cool the markets are now being felt in bank coffers.
These market changes include a recently imposed monthly cap on mortgage guarantees at $350 million for each mortgage lender. As the spread of mortgages narrows and becomes less attractive, banks look to make up the lost profit through credit cards.
Credit Cards Mean Easier, Faster Profits
Although credit cards have a higher default rate, they offer the opportunity for a higher profit margin. As the saying goes – the higher the risk, the higher the reward. Consumer debt has skyrocketed over past several quarters, fueled by ultra-low interest rates. The debt-to-income ratio hit a record 163 per cent in the third quarter of 2012, before falling slightly to 162 per cent in the most recent quarter, according to Statistics Canada…
John H. Cochrane: The Danger of an All-Powerful Federal Reserve
– online.wsj.com
‘Macroprudential’ policy thinkers want central banks to micromanage the entire financial system.
