Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
TD Canada Trust Hikes Prime Mortgage Rate – What’s Next? + MORE Nov 4th
It was a move that came as a shock to some but not was not a surprise to others. On November 1st, TD Canada Trust became the first of the big five banks in Canada to raise its prime mortgage rate from 2.7 per cent to 2.85 per cent. The news comes only two weeks after the implementation of brand-new.... More »
5 winter home sales tips Nov 21st
(Getty Images/Ryan McVay)
Selling your home in the winter is less than ideal. Historically, the winter months show the biggest month-to-month and year-over-year price drops. That’s because there are fewer buyers willing to brave the elements and it’s harder to showcase your home’s curb appeal..... More »
The Best Credit Cards for Dining Out Jan 2nd
The year 2020 may bring new resolutions, promises to hit the gym, and positive aspirations for the start of the decade. It also comes with rising housing expenses, gas costs, and food prices. But don’t let that bring you down. With a rewards credit card, you can earn points or money back just by .... More »
Is Online Credit Card Use Still Safe? + MORE Jan 14th
What would 2015 be without a little dash of data stealing?
Just in time for post-Christmas shopping woes, hackers claimed they leaked credit card info from 13,000 dating site users and Walmart/Amazon shoppers on December 28. A few days later it was American fast food chain Chick-Fil-A admitting tho.... More »
Canadians collectively owe $1.8 trillion in household debt + MORE Mar 13th
TORONTO _ Canadians’ collective household debt has climbed to $1.8 trillion as an international financial group sounds an early warning that the country’s banking system is at risk from rising debt levels.
Equifax Canada says consumers now owe $1.821 trillion including mortgages as of th.... More »
Bernanke: US regulators have greater power to shut down ailing banks and combat future crises
– canadianbusiness.com
WASHINGTON – Chairman Ben Bernanke said Friday that the Federal Reserve is drafting rules to close large insolvent banks without bringing down the broader financial system, one of many steps regulators must take to prevent another financial crisis.
Bernanke said the absence of a process to deal with systemically important institutions in 2008 left regulators facing the “terrible choices of a bailout or allowing a potentially destabilizing collapse.” His comments were made at a conference sponsored by the International Monetary Fund.
The financial overhaul law passed by Congress in 2010 gave regulators better tools to close down large financial institutions, he said. The Fed and other regulators are working to implement those rules now.
“Our continuing challenge is to make financial crises far less likely and, if they happen, far less costly,” Bernanke said.
At the IMF conference, Bernanke was asked about whether enormous growth in student loan debt could trigger a future financial crisis…
Bernanke said the absence of a process to deal with systemically important institutions in 2008 left regulators facing the “terrible choices of a bailout or allowing a potentially destabilizing collapse.” His comments were made at a conference sponsored by the International Monetary Fund.
The financial overhaul law passed by Congress in 2010 gave regulators better tools to close down large financial institutions, he said. The Fed and other regulators are working to implement those rules now.
“Our continuing challenge is to make financial crises far less likely and, if they happen, far less costly,” Bernanke said.
At the IMF conference, Bernanke was asked about whether enormous growth in student loan debt could trigger a future financial crisis…
Spotlight On Mortgages: November 8, 2013
– ratesupermarket.ca
Return Of The Bubble?
Lately, the Canadian housing market has been painted as invincible – set after set of data indicate that both demand and prices continue to rise, offsetting the “cooling” effect put in place by last year’s mortgage rules, and sparking new fears that a bubble is forming.
These fiery buying conditions are further fueled by reassurances that the Canadian cost of borrowing will remain super low for the long term, as indicated in the last Bank of Canada announcement, which dropped any reference to when rates may rise again in the future.
This has already led to fears that Finance Minister Jim Flaherty will introduce new mortgage rules, like he did last summer. He has since gone on the record to say he’s sitting this round out – for now – but added he is meeting with industry developers for more insight, indicating that a day of reckoning might not be too far off.
A Global Issue
A too-hot-to-handle housing market and artificially low rates aren’t just Canada’s problem – central banks around the world have slashed their rates to record lows in order to prompt economic recovery…
Spotlight On Mortgages: November 8, 2013
– ratesupermarket.ca
Return Of The Bubble?
Lately, the Canadian housing market has been painted as invincible – set after set of data indicate that both demand and prices continue to rise, offsetting the “cooling” effect put in place by last year’s mortgage rules, and sparking new fears that a bubble is forming.
These fiery buying conditions are further fueled by reassurances that the Canadian cost of borrowing will remain super low for the long term, as indicated in the last Bank of Canada announcement, which dropped any reference to when rates may rise again in the future.
This has already led to fears that Finance Minister Jim Flaherty will introduce new mortgage rules, like he did last summer. He has since gone on the record to say he’s sitting this round out – for now – but added he is meeting with industry developers for more insight, indicating that a day of reckoning might not be too far off.
A Global Issue
A too-hot-to-handle housing market and artificially low rates aren’t just Canada’s problem – central banks around the world have slashed their rates to record lows in order to prompt economic recovery…
Business Highlights
– canadianbusiness.com
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US added unexpectedly strong 204,000 jobs in Oct.
WASHINGTON (AP) — A burst of hiring in October added a surprisingly strong 204,000 jobs to the economy in a month when the government was partly shut down for 16 days. And employers added far more jobs in August and September than previously thought.
The unemployment rate rose to 7.3 per cent from 7.2 per cent in September, the Labor Department said Friday. But that was likely because furloughed federal workers were temporarily counted as unemployed.
The surge in jobs shows the economy was stronger in October than many economists had expected. Activity at service companies and factories also accelerated last month, an earlier report showed. The figures signal that many U.S. companies shrugged off the shutdown.
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Bernanke: Fed has greater power to combat crises
WASHINGTON (AP) — Chairman Ben Bernanke says the Federal Reserve is drafting rules to close large insolvent banks without bringing down the broader financial system, one of many steps regulators must take to prevent another financial crisis…
US added unexpectedly strong 204,000 jobs in Oct.
WASHINGTON (AP) — A burst of hiring in October added a surprisingly strong 204,000 jobs to the economy in a month when the government was partly shut down for 16 days. And employers added far more jobs in August and September than previously thought.
The unemployment rate rose to 7.3 per cent from 7.2 per cent in September, the Labor Department said Friday. But that was likely because furloughed federal workers were temporarily counted as unemployed.
The surge in jobs shows the economy was stronger in October than many economists had expected. Activity at service companies and factories also accelerated last month, an earlier report showed. The figures signal that many U.S. companies shrugged off the shutdown.
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Bernanke: Fed has greater power to combat crises
WASHINGTON (AP) — Chairman Ben Bernanke says the Federal Reserve is drafting rules to close large insolvent banks without bringing down the broader financial system, one of many steps regulators must take to prevent another financial crisis…
