Take full advantage of tax-free savings accounts + MORE Feb 3rd

Good things come to those who wait – and those timing the mortgage market are in for savings, as fixed mortgage rates plummet below the three per cent barrier once again.
Lenders have cut 5-year fixed mortgage rates to 2.99 per cent, not offered in Canada since August of last year. The rate, which will initially be available in Ontario, Alberta and British Columbia, will be a full featured mortgage product complete with prepayment options.
Consumers Poised To Save Big
What would you do with an extra $100 each month? Those are the savings Canadian home buyers can expect when financing their mortgage at 2.99 per cent, compared to the lowest big bank five-year fixed offering of 3.49 per cent.
- Canadians will pay $1,787 per month
- Canadians will save $98 per month
- Canadians will save $1,176 per year
- Canadians will save $29,400 over the course of a 25-year mortgage
Kelvin Mangaroo, President of RateSupermarket.ca, says lenders are taking their cue from the current economic climate…

Recent data indicate that Canadians are saving more. Statistics Canada reports the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in tax-free savings accounts, a 23% increase from 2012.

The global cost of borrowing has been whipped into a frenzy this week, as the U.S. unveils its latest tapering bombshell. Be sure to check out our breakdown on why markets are reacting this way, and whether this will translate into higher rates for Canadian consumers.
The focus has also been growing on the dangers of subprime lending, particularly in the auto industry. Don’t miss our expose on how these loans work – especially if you’re on the hunt for a new car.
Tapering Round 2 Knocks Out Emerging Markets
The U.S Fed announced the second round of tapering for their bond buying program on Wednesday, a signal the country is ready to wean itself off cheap money. Emerging global economies, however, may not be so ready to go cold turkey, as markets slide and currencies drop.
What impact will this have on the Canadian cost of borrowing? Can we expect rates to rise?
Read Penelope’s Blog | Tapering Round 2 Knocks Out Emerging Markets
Is This The Beginning Of A Stock Market Correction?
2013 was a banner year for the stock market, with indexes around the world jumping up to 35 per cent! But experts cautioned such conditions were too good to be true, and called for an inevitable market correction…

It should come as no surprise the super low interest rate environment has made it challenging for Canadians to save for retirement.
Yet, while bond yields have dropped somewhat over the month of January, they have been trending higher over the long term. Rising interest rates generally mean higher returns for savers – but it’s important to be aware that these rising rates can pose a threat to your investment portfolio, especially if you’re invested heavily in fixed income.
Canadians Not Aware Of Rising Bond Yield Risks
Sixty per cent of Canadians with retirement portfolios are unaware of how rising interest rates can erode the value of their investments, according to a new poll from CIBC Asset Management. In fact, baby boomers who typically have a larger percentage of their portfolio in fixed income are mostly in the dark, with 65 per cent unaware of the impact of rising rates. Even more worrisome, 54 per cent of Canadians are not even considering changing their retirement savings strategy in a rising interest rate environment, with the figure jumping to 62 per cent for baby boomers…