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.
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The best 5-year variable mortgage rates in Canada + MORE May 1st
Mortgages
The best 5-year variable mortgage rates in Canada
You’re 2 minutes away from getting the best mortgage rates in Canada. Just answer a few quick questions to get a personalized rate quote.
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The best TD credit cards in Canada 2020 Nov 9th
Before we talk about the best TD credit cards in Canada, let’s talk about TD. Formed through a merger between financial giants Bank of Toronto and The Dominion Bank in 1955, TD is one of Canada’s big five banks. It offers a wide array of financial services including an impressive portfolio of mo.... More »
Why Hollywood Celebrities Are Petitioning Against a Canadian Bank Mar 23rd
Royal Bank of Canada’s financial support for the Coastal GasLink pipeline is generating some star-studded opposition.
More than 65 celebrities, including award-winning actors, directors and musicians, have joined Indigenous climate activists in signing a petition calling on RBC and its subsidia.... More »
Making sense of the markets this week: October 2 Oct 1st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Bears are beating the bulls this year, but don’t bulls always win?
As share prices continue to fall faster than earnings in almos.... More »
What home buyers should know about the Canadian mortgage stress test Mar 26th
Canada’s mortgage stress test applies to anyone applying for or renewing a home loan through a federally regulated lender. But, if you’re like nearly half of Canadians polled by TD Bank in 2019, you may not understand what the test is—or who it affects.
The rules of the stress test ha.... More »
What Negative Interest Rates Mean for Canadians
– canadianfinanceblog.com
Even before COVID-19 began to dominate the collective consciousness, the possibility of negative interest rates garnered plenty of attention in the press. Just last year, in the midst of a U.S./China trade war, Donald Trump mused about the Federal Reserve heading into negative territory in order to spur the economy. In the EU, several European central banks have used negative interest rates for a number of years now. In light of all of this, not to mention the ultra-low interest rate environment we are currently living in, I thought it would be helpful to explore the subject of negative interest rates – what they mean for the economy, and how they might impact individual Canadians.
The Overnight Rate Explained
To understand how negative rates work, one needs to be familiar with something called the overnight interest rate. This is the interest rate financial institutions use when they lend money to one another for one night. It’s set by the Bank of Canada and is the basis upon which other interest rates, such as mortgages, loans, and lines of credit, are set…
The Overnight Rate Explained
To understand how negative rates work, one needs to be familiar with something called the overnight interest rate. This is the interest rate financial institutions use when they lend money to one another for one night. It’s set by the Bank of Canada and is the basis upon which other interest rates, such as mortgages, loans, and lines of credit, are set…
