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Making sense of the markets this week: May 19, 2024 + MORE May 17th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Inflation is down, so stocks go up
The correlation between lowering inflation rates and inflated stock prices conti.... More »
Car loan interest rates: What’s the best Canadians can get? + MORE Dec 20th
I’m half-Italian, grew up in a kitchen and am a seasoned home cook. Even so, I still turn to an expert (my mom) for advice on my most special dishes. After all, creating a culinary masterpiece requires careful planning, attentive research, vigilant sourcing and maybe some expert help. Ditto shoppi.... More »
Air Miles expands offerings, including ways to earn and redeem + MORE Jul 6th
Air Miles has unveiled its new brand platform, complete with an aspirational tagline that aims straight at Canadians’ revenge-travelling hearts: “Collect more moments.”
As you might recall, BMO Financial Group bought Air Miles in March 2023, after the program’s owner, Loyalty Ventur.... More »
The best GIC rates in Canada for 2024 May 27th
Investing
The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
Tap "Return to top" to come back here.
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The best travel credit cards in Canada for 2024 Aug 30th
Credit card comparison tool
Compare your travel card options with our interactive tool and filter credit cards based on rewards value, annual fees, income requirements and more.
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How much income do I need to qualify for a mortgage in Canada?
– moneysense.ca
Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119, according to the Canadian Real Estate Association (CREA). How much money do Canadians need to earn, on average, to afford a house?
Affordability conditions aren’t likely to improve anytime soon, despite the optimism that mortgage rates will stabilize; a monthly study conducted by Ratehub.ca reveals it has become increasingly tougher to afford a home since the start of the year. (Ratehub and MoneySense are both owned by Ratehub Inc.) The study gauges affordability by calculating the minimum annual income required to purchase the average-priced home in 13 of Canada’s major housing markets, based on real estate data, as well as average mortgage and stress test rates. It measures the trends in affordability on a month-to-month basis, as rates and home prices fluctuate…
