Manulife results hit by lower insurance sales, slower wealth management growth + MORE Feb 7th

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Future of Car Insurance: How the PC Win Will Affect Rates in Ontario Jun 20th

Now that the election is over, it’s unclear how newly-appointed Premier Doug Ford will tackle rising auto insurance rates in Ontario. Over the course of the 2018 provincial elections, both the Liberal and NDP party touched on plans to tackle rising auto insurance rates in Ontario – a hot topic .... More »
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Scotia Momentum® VISA Infinite* Review May 15th

Attention MoneyWise readers! Sign up for the Scotia Momentum® VISA Infinite* card and, for a limited time, get $75 IN CASH via Interac e-Transfer or a gift card from RateSupermarket.ca upon approval! Are you looking for a well-rounded, high-earning cash back credit card with travel perks and no a.... More »

Canadian banks hacked and the insurance claim you can't make: CBC's Marketplace consumer cheat sheet Jun 4th

CBC's Marketplace rounds up the consumer and health news you need from the week, including customer data hacked at two Canadian banks, taking car insurance companies to court and the provinces with the best cellphone plans..... More »
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Credit Card Review – SimplyCash Card from American Express Apr 17th

Among the ever-popular lineup of cash back credit cards, American Express offers two competitive daily spending-focused options. The SimplyCash™ Cards from American Express come with an intro bonus and rewards structure that rivals market leaders, but with a few key differences (think greater fle.... More »
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Mercedes-Benz starts subscription pilot from $1,095 a month Jun 12th

Subscribers can choose any vehicle within their tier with no mileage limitations, and a monthly fee covers insurance, vehicle maintenance and 24-hour roadside assistance..... More »
Insurer reported earnings per share after items of 59 cents; analysts had been looking for earnings of 58 cents a share

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TORONTO — Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance.
As a result, alternative lenders are seeing an uptick in business as brokers increasingly direct home buyers toward borrowing options that are beyond the reach of the Office of the Superintendent of Financial Institutions’ newly enacted tighter lending requirements.
READ: Your mortgage is about to get more expensive
Clients who don’t meet the bar are turning to private lenders, mortgage investment corporations (MICs) and credit unions, which are provincially regulated and not required to implement the stress test, said Carmen Campagnaro, president of Pro Funds Mortgages in Burlington, Ont.
Campagnaro is one of the brokers who said rejected loan applications to traditional lenders have risen by 20 per cent since Jan…

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