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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Oil sinks 5% as Moodys banking downgrade drops another shoe on crisis By Investing.com - Investing.com + MORE Mar 14th
Oil sinks 5% as Moodys banking downgrade drops another shoe on crisis By Investing.com Investing.comOil Falls Again As Traders Remain Concerned About U.S. Banks OilPrice.comWTI crude settles at the lows of the year. The chart is daunting ForexLiveOil Sinks to Three-M.... More »
Making sense of the markets this week: October 23 Oct 21st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Bank on higher interest rates leading to increased profits
U.S. earnings season is in full swing, and the banks were some of the fi.... More »
The best student credit cards in Canada for 2024 + MORE Aug 30th
When you’re at a new restaurant, do you have to see the menu before you order? Or do you eat what your foodie friend says is good, knowing it’ll be amazing? The answer can help you decide how to pick a new credit card. Some people want the ability to compare their options side-by-side; others wa.... More »
The best credit cards in Canada for 2024 Sep 21st
MoneySense has ranked the best credit cards in Canada across numerous categories of cards. On this page, however, you’ll find the best of the best: the cards that top their respective categories and cater to the needs of most Canadians. Use the tool below to compare credit card options, or keep sc.... More »
Lowest Winnipeg mortgage rates: Save with Cambrian Credit Union + MORE Jul 29th
When Canadians need a mortgage, they often default to the big banks—but there’s a whole other world of financing options to explore. Credit unions have competitive interest rates in Canada, including Manitoba, plus innovative mortgage options you may not be able to find elsewhere. Shopping aroun.... More »
Now’s not the time to switch to a fixed-rate mortgage
– moneysense.ca
The Bank of Canada’s April 13 interest rate hike of 0.5%—the biggest one-time rate jump in decades—caught many variable-rate mortgage holders off guard. Some are likely thinking about running to their local bank branch or mortgage specialist to lock into a standard five-year fixed rate. Those who do so will likely be welcomed into the lion’s den by employees with open arms, wide grins and reassuring sales pitches bestowing the benefits of peace of mind and comfort.
Stop! Yes, banks’ prime lending rate has increased from 2.4% to 3.2% with the first two benchmark rate increases this year. And yes, we will most likely see another Bank of Canada rate increase come June, and it could push the prime rate further, possibly to 3.7%. This all seems uncontrollable, unmanageable—and it will cause many to panic.
You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quoteI’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense…
