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BREAKING: Ontario Car Insurance Rates Increase + MORE Jul 22nd
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 0.76 per cent on average..... More »
10 travel insurance myths to stop believing now + MORE Feb 23rd
Travel insurance can be tough to understand, and if you’re not reading the fine print, you could be relying on inaccurate myths to inform your coverage decisions. Luckily, InsurEye, a Canadian insurance education site has compiled a massive list of 111 insurance myths that are out there. We’.... More »
The Best American Express® Credit Cards in Canada Oct 31st
It is a long-held belief that Amex® cards are just for the wealthy – but their current selection of cards should help to dispel that myth. From no-fee cards with low balance transfer offers, to top tier cards with VIP benefits and comprehensive travel insurance, there really is something for eve.... More »
How to qualify for EI benefits in retirement in Canada Feb 21st
Ask MoneySense
I’m a 75-year-old male, working part-time and contributing to EI every two weeks; and have for 10 years.
I do have CPP and OAS income.
Do I qualify to collect EI benefits for a period of time if I retire this year? I’ve paid contributions for 10 years and now plan to ret.... More »
CMHC to raise mortgage insurance premiums for new homebuyers as of March 17 + MORE Jan 18th
OTTAWA _ Canada Mortgage and Housing Corp. is raising the cost of mortgage loan insurance for new homebuyers effective March 17.
The Crown corporation estimates the increases will add about $5 to a monthly mortgage payment for its average homebuyer.
“We do not expect the higher premiums to hav.... More »
Canada Mortgage and Housing Corp. is raising mortgage insurance premiums for homebuyers with less than a 10 per cent down payment.
“Atrocious” Economic Conditions in Canada Expected for Q1
– ratesupermarket.ca
Bank of Canada Governor Stephen Poloz is finally letting on how negative oil’s price dive has been for Canada’s economy – in fact, he says it has been “atrocious”. In a statement made to the UK Financial Times, Poloz gave some additional insight behind January’s surprise central rate cut. He stated, ”When the oil shock came, it was clear we would no longer be able to close the output gap by 2016, but by 2017,” adding, “Since we had some firepower, we took some insurance and cut rates.”
What does this mean for our economy going forward? How should regular Canadians, many with mountains of debt, react to the Bank of Canada governor saying the economy is in distress?
Q1 Won’t Look Good
Poloz says to expect results from the first quarter of 2015 (January to March 31) to be disastrous. From real estate to unemployment, all sectors are under pressure due to oil’s pricing. States Poloz, “The first quarter of 2015 will look atrocious, because the oil shock is a big deal for us…
