The best GIC rates in Canada for 2024 + MORE Jun 21st

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Couche-Tard looks at acquisitions and reports earnings drop Jun 28th

Alimentation Couche-Tard Inc. (ATD/TSX) says its net earnings fell by almost a third in its fourth quarter as inflation-squeezed consumers watch their spending.  Couche-Tard reports earnings for Q4 The convenience store giant says net earnings attributable to shareholders totalled $453 millio.... More »
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Making sense of the markets this week: July 14, 2024 Jul 12th

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. Are U.S. rate cuts on the way? While Canada’s inflation rate is obviously at the forefront around decision making.... More »

The best GIC rates in Canada for 2024 Jun 25th

Investing The best GIC rates in Canada Find the best GIC rates in Canada. Plus, everything you need to know about how they work. Compare highest rates Why trust us MoneySense is an award-winning.... More »

Selling a cottage to a family member: What that means for capital gains Jul 18th

AskMoneySense I shared a cottage property with my brother. I sold my half to my half to my niece. Do I have to pay capital gains tax? If so, how do you calculate this? How do you determine the adjusted cost base? What expenses can be applied? —Terry What happens when you sell your cottage t.... More »

Single, no pension? Here’s how to plan for retirement in Canada Jul 3rd

Being single in retirement has some financial obstacles. Some people are single as they enter retirement. Others become single due to divorce or death prior to or after retiring. Here are some considerations for planning your retirement as a singleton, especially if you have no defined benefit (DB) .... More »

Credit Cards

The best student credit cards in Canada for 2024
As a student, using a credit card responsibly is one of the most efficient ways to establish your credit history and build your credit score.

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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Making sense of the markets this week: June 23, 2024Kyle 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.

We’re building more houses—and prices are down!

On Monday, the Canada Mortgage and Housing Corporation announced housing starts rose from 241,111 units in April to 264,506 units in May: good for a 10% increase. The pace was highest in Montreal, where starts were up 104%, and in Toronto, they were notably up 47%. That’s a pretty good clip, considering how high interest rates are at the moment.

While it would be statistically correct to say that this level of housing starts is near historically high levels, that doesn’t quite tell the whole story.

Source: Statista.com

To get a more accurate historical perspective, we should consider the housing starts per capita over the years. After all, Canada’s higher population should mean more capital, carpenters, electricians and other factors of production that go into housing creation, right?

Source: Brent Bellamy on X

Perhaps we’re moving in the right direction, but we’ll need a major uptick in housing starts before we have proportionately the same housing creation numbers as we did back in the heyday of the 1970s…

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Investing

The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.

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Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

By Keph Senett and Justin Dallaire on June 21, 2024Estimated reading time: 22 minutes

Here you’ll find the answers to common GIC questions, along with information on the best GIC rates available right now. If GICs are new to you, and you want to learn everything there is to know, start by reading our guide below…

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The best no-fee credit cards in Canada for 2024
From cash back to rewards points (and perks like no foreign transaction fees), here's a list of Canada's best no fee cards.

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Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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