Learn more about Canada’s top banks rates, rules and the latest news – read on!
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The best GIC rates in Canada for 2024 Jun 4th
Investing
The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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Canada's Big 5 bank CEOs pay rises 6.5% to $54M in 2018 Mar 14th
The chief executives of Canada's five largest banks collectively earned roughly $63.2 million in total compensation during the 2018 financial year, up about 12 per cent from the previous year..... More »
How much are trading fees? Nov 25th
Individual stock trading has exploded during the pandemic with the rise of meme stocks, investing FOMO and free trading platforms. New investors poured money into stocks looking to make a quick buck, and in most cases the markets obliged.
Indeed, Canadian and U.S. stock returns have soared since .... More »
The best high-interest savings accounts in Canada for 2024 + MORE Dec 16th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Air Canada teams up with 2 banks and Visa to make offer to buy Aeroplan Jul 25th
Air Canada is teaming up with three financial services giants to try to buy its former loyalty program, Aeroplan, from its current owner for $2.2 billion..... More »
TD, BMO get passing grades in Federal Reserve’s stress tests
– theglobeandmail.com
Toronto-Dominion Bank, Bank of Montreal and a majority of the large U.S. banks passed the second part of the Federal Reserve’s annual stress tests, giving them the green light to buy back shares, pay out dividends and make acquisitions.
Warren Buffett Acquires $400 Million of Home Capital Shares
– ratesupermarket.ca
Warren Buffett, famed American investor and business guru, is coming to the rescue of Home Capital Group Inc., the Canadian alternative mortgage lender that has been in the news for months. Berkshire Hathaway, a subsidiary of Buffett’s company, has indicated it will buy $400 million worth of common shares in Home Capital.
The news is restoring some confidence in the company, which is Canada’s largest alternative mortgage lender for those who can’t or don’t want to get a mortgage through one of the big banks. Share prices in the company had previously tumbled below $10 per share after it came to light in April that former Home Capital employees were accused of breaking the law in their handling of mortgage applications. However, now that Buffett is throwing his support behind it, share prices are back up to $19 per share.
Resolving Home Capital’s legal issues and cash crunch
On April 19, the Ontario Securities Commission (OSC) claimed that brokers falsified information on mortgage applications submitted to Home Capital, and the company, its CEO, and its CFO misled shareholders…
Warren Buffett Acquires $400 Million of Home Capital Shares
– ratesupermarket.ca
Warren Buffett, famed American investor and business guru, is coming to the rescue of Home Capital Group Inc., the Canadian alternative mortgage lender that has been in the news for months. Berkshire Hathaway, a subsidiary of Buffett’s company, has indicated it will buy $400 million worth of common shares in Home Capital.
The news is restoring some confidence in the company, which is Canada’s largest alternative mortgage lender for those who can’t or don’t want to get a mortgage through one of the big banks. Share prices in the company had previously tumbled below $10 per share after it came to light in April that former Home Capital employees were accused of breaking the law in their handling of mortgage applications. However, now that Buffett is throwing his support behind it, share prices are back up to $19 per share.
Resolving Home Capital’s legal issues and cash crunch
On April 19, the Ontario Securities Commission (OSC) claimed that brokers falsified information on mortgage applications submitted to Home Capital, and the company, its CEO, and its CFO misled shareholders…
Low interest rates have ‘done their job’, says Poloz
– macleans.ca
THE CANADIAN PRESS/Sean KilpatrickOTTAWA – With the Bank of Canada nearing its next policy decision, governor Stephen Poloz is reiterating his message that his 2015 interest-rate cuts appear to have done their job.
Poloz said in an interview broadcast on business news channel CNBC that the Canadian economy enjoyed “surprisingly” strong growth in the first three months of 2017 and he expected the pace to stay above potential.
The Canadian dollar climbed to 76.44 cents US, up from an average price of 75.83 cents US on Tuesday, as the comments increased speculation about the possibility of an interest rate hike by the Bank of Canada.
If the central bank raises its key interest rate, the big Canadian banks will raise their prime rates, driving up the cost of variable rate mortgages and other loans and lines of credit tied to the benchmark rate.
Poloz credited the two rate cuts introduced by the bank in 2015 for helping the economy counteract the effects of the oil-price slump, which began in late 2014…
