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Latest News
RWRDS Daily Update – June 2, 2023 + MORE Jun 3rd
HSBC extends all their credit card welcome offers, Ten new additions to our Amex Cobalt Multipliers list and This week in RWRDS airs today! Check out today's points & miles updates here:
The post RWRDS Daily Update – June 2, 2023 appeared first on Rewards Canada..... More »
4 Tips to Avoid the Post-Holiday (Financial) Hangover + MORE Jan 4th
New Year’s Day has already come and gone, leaving us to “look forward” to Blue Monday, the (unofficial) most depressing day of the year. This year, Blue Monday falls on January 20, the third Monday of the month. The day is calculated by factoring in things such as weather and, yes, debt level.... More »
Balance transfers from personal to business cards + MORE Apr 11th
Small-business owners should use a business credit card for all business expenses and can transfer a balance from a personal card to a business card to build credit, get perks.... More »
Why a debit card may not be the smartest choice for online shopping + MORE Nov 21st
Credit card system is more efficient if you are a victim of fraud, says cybersecurity pro. But don’t allow yourself to run up a balance
.... More »
How is passive income taxed in Canada? + MORE Nov 8th
Passive income generally includes interest, dividends, rental income and capital gains. These income sources may be subject to different tax rates depending on your income level, province or territory of residence, and how the assets are held.
Income in non-registered accounts
Investment incom.... More »
China Credit Bubble: A Global Economic Threat
– ratesupermarket.ca
Experts are warning of a credit crunch growing in China – and the economic consequences could be worse than the 2008 U.S. banking crisis. Economists are predicting China’s economy will crash hard by 2017. The country’s growth is slowing, there has been a slew of disappointing economy data, billions have been borrowed to build infrastructure and the global demand for made-in-China products declining. All of this is putting pressure on China’s economy and creating what some are calling the China credit bubble.
A Threat Of Global Proportions
China is the second biggest economy in the world after the U.S, and it’s growing twice as fast with more than three times the population. China is also the world biggest trading nation. For example in 2012 U.S. exports and imports of goods last year totalled $3.82 trillion, but in China they totalled $3.87 trillion, according to each of the countries’ government trade department.
Tightening The Credit Market
To counter the effects of tightening credit, China’s central bank, the People’s Bank of China has been injecting the equivalent of billions into its economy – $2…
Spotlight On Mortgages: August 2, 2013
– ratesupermarket.ca
Mortgage Defaults On The Decline: Genworth
Fewer Canadians are defaulting on their mortgage loans this year, according to the Q2 earnings report released by Genworth MI Canada this week. Genworth, a private mortgage insurer that provides default coverage for high-ratio borrowers (an alternative to coverage provided by the CMHC), reported that losses on default claims are $9 million lower than in Q1, and $13 million lower year over year.
The decline indicates that the number of high loan-to-value borrowers is dropping. While this is due in part to last summer’s CMHC rule changes squeezing some buyers out of the market, fewer defaults also suggest that Canadian credit situations are improving amid a strengthening economy.
The insurer also noted that business is booming with a net income of $88 million – a sign of a healing mortgages market.
“Our business continues to perform well,” stated Brian Hurley, Genworth chairman and chief executive officer, in a release. ”A balanced housing market, stable economic climate and strong portfolio quality have all contributed to the positive trends in our business, in particular our loss performance…
