The RATESDOTCA editorial team are experienced writers focused on sharing stories and bringing you the latest news in insurance and personal finance. Our goal is to provide Canadians with the information and resources they need to make better insurance and financial decisions.
Existing homeowners may be rejoicing at the fact average home prices are headed for the stars. Would-be purchasers, on the other hand, are curling up in the fetal position as their homeownership dreams turn nightmarish.
When it comes to mortgage applications, there’s no such thing as a little white lie. Even for applicants who think they may only be fudging a trivial part of the application, such indiscretions are still be considered fraud, and it can cost them.
$1 billion per month. That’s the amount of mortgage payments that Canadians have been postponing since the height of the pandemic.
Amid record home prices in parts of the country, more parents are finding their children in need of down payment assistance. That’s great so long as the happy couple goes on to live a long and happy life together. But what if the relationship goes sour?
With the Labour Day weekend over, thousands of students are heading back to class. Drivers need to be extra cautious when driving through residential neighbourhoods and school zones. Here are a few helpful reminders for navigating the roadways safely.
The glory of autumn is upon us. Many Canadians may be thinking of taking a road trip to explore the fall foliage and scenic views outside of their home provinces. But before you go, take a few minutes to ensure your vehicle and family are covered for unexpected mishaps.
Some Canadians are getting worried about the government's response to COVID-19. They fear an exploding national debt, one that’ll grow more than 55% to potentially over $1.2 trillion, is a ticking timebomb.
It’s a tough road back from the deepest recession of all time. Yet, Canada’s economy continues to make strides on its road to recovery.
Many insurers may classify vaping in the same way they do smoking. If you smoke or vape, you can still qualify for a life insurance premium, but in all likelihood, you will pay a higher rate than someone who does not.
When HSBC became the first bank to offer a 5-year fixed rate under 2% in June, it made national headlines.
These are the top credit cards and winners of Best of Finance 2020. Review the best credit cards in Canada so you can earn the most rewards and save more money.
The minimum mortgage stress test rate dropped this week thanks to a fresh round of posted rate cuts by the country’s big banks.
Both homeowners and non-homeowners alike are reporting a greater likelihood of purchasing a home post-COVID, according to a new survey.
Whether your vehicle is damaged by everyday road hazards or an unforeseen event triggered by poor weather or construction, what can you do about it?
As the economy reopens and more drivers are taking to the road again, several insurance companies may be ending the discounts they offered. Find out how these changes may affect you.
The older our population gets, the greater the chance that mortgage rates will stay low. That’s the message from a growing body of research.
Months of lockdown has people yearning for more space. That, plus lofty city home prices and the work-from-home trend are driving a growing number of urban dwellers out of the city and into the burbs, and beyond.
Thanks to plunging interest rates and high debt loads, demand for reverse mortgages has exploded in recent years.
Auto insurers Desjardins Group, SGI Canada, and TD Insurance are all upping their financial relief measures for customers during the ongoing pandemic.
The Automobile Insurance Rate Board’s annual review of consumer perspectives on car insurance finds Albertans are becoming increasingly unhappy with the cost of their premiums.
Canada’s biggest default insurer is about to make it harder to qualify for a mortgage. That is, if you’re buying with less than a 20% down payment.
As the COVID-19 pandemic drags on, three more insurers are extending or enhancing their respective rate relief measures to assist drivers and homeowners.
Fixed mortgage rates continue reaching new depths. Some are now under 2.00% for the first time ever.
Ontario’s auto insurance regulator says it is continuing to monitor insurers’ rate relief measures to assist drivers during the COVID-19 pandemic.
Telematics, or usage-based insurance, is shifting how car insurance premiums are calculated. Drivers who sign up for it with their insurers can earn discounts on their rates for driving safely.
Revisiting and possibly revising the province’s no-fault insurance provisions are among the course of actions a government-appointed committee is reviewing.
Mortgage rates have been falling almost weekly since the first week of April. We’ve got to a point where bank-offered fixed and variable rates are both under 2% for the first time in Canadian history.
Two Canadian insurers are enhancing or extending the financial relief measures to their auto policy customers. Here’s what you need to know.
The Bank of Canada adopted a decidedly positive tone Wednesday when it left the country’s key lending rate untouched at 0.25%.
It’s hard to find a positive side to a coronavirus pandemic that’s devastated lives and economies around the world.
Since the start of the coronavirus pandemic, Canadian banks have stepped up, offering mortgage deferrals or skip-a-payment assistance to more than 710,000 Canadians.
The rate reduction applies to new and renewing customers to help them cope with the financial challenges as a result of the COVID-19 crisis.
Do you and your family have an action plan and emergency survival kit in the event a natural disaster impacts your community? Follow these steps and always be prepared.
The cost of auto insurance policies can vary by hundreds of dollars depending on a myriad of variables including which insurer you choose.
Despite the COVID-19 pandemic raging on, fear in the financial markets is easing. And that’s exactly what new borrowers want to hear.
Economical is upping its premium relief measures for auto and home insurance customers in the wake of the coronavirus pandemic.
If you’re wondering what relief measures insurance companies, mortgage lenders, and credit card issuers are offering during the COVID-19 crisis, find out in a jiffy with our COVID-19 Rebate Calculator.
Virtually no one signs up for a five-year fixed mortgage with plans to break it early. Yet, almost half of Canadians who’ve had one previously say they refinanced or terminated a five-year fixed early, according to a Rates.ca survey.
Insurer will issue a 25% credit on one month’s auto insurance premium to help ease its customers’ financial challenges during the coronavirus pandemic.
Three more Canadian insurers outline their coronavirus pandemic financial relief measures for their policyholders.
Wawanesa, RSA Canada, and The Co-operators provide more details on the actions they are taking to assist their respective policyholders during the coronavirus pandemic.
Insurer is offering a broad range of financial support measures for customers impacted by the coronavirus pandemic.
Just two months ago, most housing markets were roaring into an early spring market. The COVID-19 pandemic changed that in a few weeks' time.
A state of emergency permits governments to invoke certain powers to protect the public. Find out how these measures may affect your home and auto insurance coverage.
Digital home and auto insurer joins many other Canadian insurance providers that are offering their customers financial support during the coronavirus pandemic.
Thanks to the digital age, you can still file a home or auto claim or get a home inspection done despite the coronavirus lockdown.
Canadian insurance companies are offering consumers rebates and discounts on their auto policies during the coronavirus lockdown. Find out what relief measures your insurer is providing.
Research from the Insurance Institute of Highway Safety suggests motorists who rely on driver-assisted technologies may be lulled into a false sense of security that leads to reckless behaviour such as distracted driving.
How much your car insurance premium may rise as a result of two convictions can vary between insurers, and it depends on what those convictions are.
Canada’s big banks delivered a joint announcement this week that they will be offering mortgage deferrals for those impacted by the COVID-19 crisis.
The ramifications of COVID-19 seem to get more unbelievable each day. Case in point: tonight's news from Canada's major banks.
As a government committee explores ways to make Alberta’s auto insurance system more sustainable, the Insurance Brokers Association of Alberta says expanding no-fault insurance would help.
Ontario’s auto insurance regulator wants to hear from drivers about their experiences obtaining car insurance coverage.
Italy—the country hardest hit by the spreading coronavirus pandemic outside of China, has announced that mortgage payments will be temporarily suspended.
Data from the NHTSA and IIHS in the U.S. shows a troubling trend concerning traffic fatalities involving pedestrians and cyclists.
Insurers wish to use consumer credit scores when calculating auto rates because it may be an indicator for them to determine the level of risk a driver poses.
Fraud is not a victimless crime. Here’s how fraudulent auto insurance claims are contributing to rising car insurance premiums.
Planning to book a last-minute March Break getaway? Check out the exclusive offers, complimentary services, and travel perks these rewards credit cards have to offer for your trip.
As the provincial government explores ways to contain the rising cost of auto insurance in Alberta, here are a few things you can do to get a lower rate.
Motorists in Alberta may be finding it tough to find low auto rates these days. But there are a few things you can do to give yourself an edge.
J.D. Power’s 2019 Canada Auto Insurance Satisfaction Study finds Canadian drivers’ satisfaction with insurers hinges on how well they understand the value of their policies.
Is a store credit card right for you? Here are the top perks and downsides of retail credit cards.
The much-maligned mortgage stress test is changing. The Department of Finance has confirmed that as of April 6, 2020, homebuyers getting insured mortgages will have an easier time qualifying.
One of the consequences of stricter mortgage rules has been the steady stream of borrowers turning to higher-cost unregulated lenders.
Motorists with spotty driving records may have a tough time finding affordable auto insurance. Here’s what you can do about it.
Some people spend years dreaming of their wedding day. They plan big, lavish marital events that they hope they’ll never forget.
If you’re thinking of getting into the home-sharing business, make sure you have the right insurance to protect you and your property.
There are plenty of plan options to choose from that will help you when you need it. But how should you decide which roadside assistance program to join?
It was heralded as the government’s answer for first-time buyers struggling to enter the housing market amidst sky-high prices.
As debt loads grow, Canadians are increasingly left with less free cash at the end of each month…as little as $200 in most cases.
Vancouver and Toronto have earned the dubious distinction of being among the top six least affordable housing markets in the world—outranking even New York City and London, England.
People like talking to people for mortgage recommendations. They always have.
But here’s something that we didn’t realize until now.
Variable-rate borrowers have rejoiced with interest rates in Canada and around the world returning to near-record lows in 2019. We’ve seen such rates for several quarters now, but several quarters could become several years.
If you make an unconditional offer on a house, you better be prepared to follow through with the purchase.
At the turn of every new year, Canadians start thinking about the state of their finances. And it seems that this year, a majority of us are worried about personal debt levels and a potential recession.
As we prepare to bid farewell to 2019, it will be remembered as the year of falling fixed mortgage rates.
It helps to know your credit score well before applying for a mortgage — something only 67% of Canadians aged 18 to 24 do.
From gathering the proper paperwork to understanding the exclusions in your policy, learn how to avoid some of the most commonly denied travel insurance claims.
Canadians are more delinquent, according to Equifax, both with their mortgages and non-mortgage debt.
Tis the season for giving. And for many parents across the country, that means gifting down payment funds to help their child get a foothold in the housing market.
One in four Canadians uses their credit card to bridge gaps between paycheques; here’s how to set a financial plan to get ahead.
Many bright-eyed and bushy-tailed first-time homebuyers are so focused on saving a down payment, that they forget the myriad of other costs that come with buying a home.
Be prepared for the wrath of winter with an emergency home kit.
Teen driving safety technology can help to prevent speeding, impaired driving, distracted driving, and reinforce safe driving habits.
Should I staycation or travel? This is a question many people ask themselves when booking time off from work.
Given today’s relatively low mortgage rates, obtaining a second mortgage can be a viable option for Canadians in need of extra funds. It’s one of the options available to homeowners who want to borrow against the equity they’ve built up in their home.
Most people think about travel insurance when booking their vacations. After all, it's good to have security in case of the unexpected, right?
We’ve heard from experts and policymakers for years that Canadian debt loads are a growing problem.
You’ve received a ticket for a traffic violation, and if this is your first one you may feel confused and overwhelmed about what to do next. Fortunately, dealing with a traffic violation is generally quite straightforward.
Whether you've moved from another Canadian province or from outside the nation, here's what you'll need to know to get your Ontario driver’s licence.
Rising home prices are great for existing homeowners but they’re not so great for aspiring homeowners.
If you get a distracted driving ticket, you might be denied insurance, or your rates can go up by 25%. Here's what you need to know.
Climate change is impacting insurers and federal parties have varying plans to fight it.
Thomas Cook's collapse stranded 600,000 travellers. If you're affected by this tour agency's closure or concerned about a trip, here's what you need to know.
Do you know how to get the most out of the fuel you buy? Test your fuel savings know-how to see if you’ve got what it takes to stop the siphoning of your money.
Not sure which of your valuables and personal property need a home insurance rider? Here's a helpful list.
CIBC becomes first major Canadian bank to offer installment options on larger credit card purchases at lower interest rates.
Hurricane Dorian wreaked havoc in the Bahamas and repairs might take several months or years to complete. If you had upcoming travel plans for the Bahamas what can you expect? Or, what if you want to travel to the Caribbean islands in the next six months to a year?
Need to file an insurance claim after Hurricane Dorian? Here are the steps to take and why you should file right away.
Traffic tickets are unpleasant business. They cost you a significant amount in fines and end up on your driving record. But there's another way driving penalties take money out of your pocket: higher insurance premiums. See how much traffic tickets could affect the premiums you pay.
As of today, Ontario becomes the fourth province to allow electronic pink slips.
Mechanical breakdown or engine explosion are both exclusions in standard auto insurance policies. Learn more about when a vehicle fire is covered and when a driver pays out-of-pocket.
What could possibly go wrong with a DIY home or auto repair. Here are some of the funniest fixes about repairs gone wrong.
Here's how to deal with boredom when you're stranded in an airport.
Are you paying too much for car insurance? Here’s what drivers pay in every province. And, how to find cheaper car insurance online.
Alberta joins Nova Scotia and Newfoundland and Labrador to allow electronic pink slips to be used as proof of insurance.
Planning to make the most of what’s left of summer? Test your traveller know-how with the Rates.ca quiz that debunks some of the most damaging travel insurance myths out there!
Severe weather can rain on your parade, but there are ways to mitigate the frustration and stress.
A tenant insurance policy provides you with coverage for losses due to an insured risk. Here's what else you need to know.
The promise is in line with industry pressure to revisit the tax burden of insurance products in Canada.
New to Canada? Here's a quick-start guide on credit cards tailored to new Canadians.
If your teen is ready for a credit card, this guide will you teach your kids about responsible spending.
The auto insurance tax amendment would save drivers 13% in premiums.
Now you’ll get paid when your flight is delayed.
Find out how Thailand's new proposed travel insurance system for visitors to the country could affect your upcoming vacation.
The lowdown on debt-to-income ratios and how the may affect you when applying for a mortgage, auto loan, or credit card.
Seeking a one-of-a-kind experience to make memories that could last a lifetime? Here are some ideas for your next vacation.
Be careful who you trust to safeguard your online data.
Here are a couple of rental horror stories that will have you shaking your head (and updating your insurance policy).
Your answers to these two questions, can increase your financial fitness and improve your ability to master your budget!
Top vacation ideas for nature lovers, sea turtle vacations, bison vacations, butterfly preserves, hummingbird preserves in Costa Rica.
Paying off your mortgage faster can mean significant savings over the lifetime of the mortgage.
Credit cards can be a great tool to help you reach your financial goals but use them with care.
Travel alone? You might worry you'll get bored. But with activities like hiking, biking and yoga, a solo trip can be exciting. Here are a few tips to help.
Whether you’re looking for your first home or downsizing into a post-retirement condo when it comes to mortgage pre-approval, here’s what you should (and shouldn’t) do.
Whether you're looking to rent an apartment or buy a car, there's no getting around the simple fact that your credit score matters.
If you are behind on your retirement savings, there's still time to catch up.
Emergency declarations apply to high-rise buildings too.
For some people, adventure is a necessary part of a good vacation.
Home insurance can protect you and give you added peace of mind. But, to avoid claims being denied, avoid these things that can void your insurance policy.
What's the best way to pay for a renovation project?
Use a mortgage payment calculator and consider all your expenses.
Renting a scooter, moped, ATV, or other vehicles while on vacation can be a lot of fun, but only if you have the right insurance.
Looking for a new credit card? Check out who won this year's RateSupermarket Awards for best credit cards and banking products!
Check your history before you go shopping for home financing.
You can be left with a life-altering bill.
You already know your driving history affects your insurance rate. But what about your age, marital status, or gender?
Experts agree that the Mortgage Stress Test is to blame for a drop in housing prices, but that doesn't mean that a solution is on its way.
Use personal loans for major purchases, expenses, and to consolidate high-interest credit card debt.
Insuring your home-based business may not be at the top of your to-do list, but it's crucial.
What happens if you crash your trailer?
With graduation just around the corner, now may be the time to shop for your teen's car.
Mortgage pre-approvals save time, angst, and give you leverage.
Insurance companies are still assessing risk but it’s likely rates will increase over time.
Before you decide to rent a car, make sure you know exactly what you're getting into and what auto insurance you need.
The recent Ontario Budget Proposal announcements on auto insurance were good news for drivers.
Before you book a cottage for your next getaway, make sure that you're covered by the right travel insurance.
This is how the legalization of recreational marijuana can impact your home insurance.
Wildfires are on the rise. As climate change leads to hotter, drier summers and urban populations encroach into rural areas, there's more kindling and risk of ignition. Wildfire is called an "emerging risk" by insurers.
The pros and cons of a home mortgage versus a home equity line of credit.
Home renovations can have a direct impact on your insurance policy. Here's how to make sure you're covered.
Natural disasters such as the Fort McMurray wildfire have made insurance companies realize the importance of the human touch.
The Canadian government is considering the pros and cons of providing fitness trackers to employees in order to lower insurance premiums.
The 2019 Federal Budget included plans to help Canadian first-time home buyers.
Make sure your short-term rental is protected by your home insurance.
The 2019 Federal Budget offers up a big prize for first-time home buyers.
The grounding of the 737 Max aircraft has disrupted travel in Canada. Flyers are turning to travel insurance policies to recoup costs incurred due to cancelled flights.
Technology is changing the way we build our cities and our infrastructure.
Canada's Office of the Superintendent of Financial Institutions (OSFI) introduced a "mortgage stress test" that went into effect in January 2018.
The devil is often in the details. And sometimes you'll find a guardian angel in there, too.
Will your next home loan be completed exclusively online with no human contact?
On March 6, the Bank of Canada announced the direction of its decision on interest rates for overnight loans among Canadian banks.
Financial markets and consumers await the Bank of Canada's (BoC) announcement regarding the direction of interest rates on March 6th.
Canadian auto insurance rates seem ever on the rise.
Would you get into the back seat of a car without a driver?
Learn what influences your insurance premium.
You may think this technology is tied to exchanging digital currencies only, but there's more to the story.
In a recent study performed by the Alberta Transportation Office of Traffic Safety, statistics reveal trending decreases in the number of mishaps on the province's roads and highways.
Driving in Canada's capital has become more dangerous than ever.
The decriminalization of marijuana is still new. Insurers and drivers are still learning how it might affect hazards on the road and premium rates.
Those who have been convicted of more than one DUI offence are automatically part of the high-risk car insurance category.
Climate change is making historical records unreliable as a tool for predicting weather-related risks.
Among the 10 provinces, insurance rates vary considerably, with Quebec holding the lowest average premium and British Columbia (B.C.) registering the highest figure.
Distracted driving-related collisions are not only devastating from a human perspective, but can cause your car insurance rates to skyrocket.
It’s been a long, expensive year for Ontario drivers as auto insurance rates keep increasing.
Loblaw Companies Ltd. recently announced it is merging its PC Plus loyalty program with Shoppers Drug Mart’s Optimum program.
For the second time in a row, the Bank of Canada has raised its overnight lending rate – this time to by 25 basis points to 1%.
There may be no more difficult topic to broach with another person than money.
Carve out good times this Halloween with these 13 tips to keep your home, your car and all the trick-or-treaters safe.
It’s almost that time of year again – the air gets cooler, the nights get longer and the kids are once again getting ready to hit the books.
With a wide variety of travel websites and apps, it may take all of a few hours to find and book a relaxing getaway that won’t break the bank.
Buying a vacation home has long been a popular way for seniors to ensure they have a place to go either when the long Canadian winter sets in or a space that they can visit routinely with their extended families.
Across the country, overall home sales jumped by more than 10% in April, year over year. At the same time, prices in Toronto increased by 13 per cent while jumping a whopping 25% in Vancouver.
It’s not something you really want to think about when you’re planning your trip – medical travel insurance. However, it’s a must-have in case of any emergency.
The Bank of Canada will leave its trend-setting overnight lending rate at 0.5% where it has remained since July 2015.
Planning on applying for a mortgage or renewing your existing one? You can count on stable interest rates to last, as the Bank of Canada has left the cost of borrowing unchanged in its most recent announcement.
Growing concerns of a recession prompts Canada's central bank to take stimulus action.
The Ontario government is taking measures to reduce auto insurance rates further for drivers, but there will be some changes to your auto insurance coverage.
New updates were announced for the credit card code of conduct today, with the intent of promoting greater transparency and lower fees for both merchants and shoppers.
Are you one of the many Canadians counting down the days until payday? Today more Canadians than ever are a paycheque away from financial ruin.
Canadians are feeling less confident about meeting their financial goals in 2015, finds a new infographic from Rates.ca.
The clock is ticking on the government of Ontario to fulfil its promise to lower the amount drivers shell out for auto insurance in the province.
Mortgage expert David Larock recently weighed in on factors that could affect the housing market in 2015.
It’s now easier than ever for high-risk drivers in the U.S. to find auto insurance.
It just became more convenient to pay for fares on the red rocket. As of January 1, 2015, TTC riders are now able to purchase fares with credit and debit cards.
As reported by Insurance & Technology on December 23, 2014, mobile devices look to make a splash in the auto insurance industry in 2015.
Apple and Google may be household names in the online and in the mobile space, but both could soon be making a splash in the car insurance industry.
If you’re like most people, buying a home represents the single largest financial transaction of your lifetime. While most homeowners would buy home insurance in a heartbeat, a lot aren’t aware of another important kind of insurance: title insurance.
When you signed up for a mortgage with your bank, you were probably offered mortgage life insurance. Banks market mortgage life insurance as a must-have for homeowners.
If you’re a credit cardholder, you’ve probably been offered balance protection insurance before.
Are you up to your eyeballs in credit card debt? A balance transfer could be the lifeline you’re looking for.
With many Canadians in the festive spirit, it comes as no surprise the Bank of Canada has decided to leave interest rates alone.
As a first-time homebuyer, it’s easy to obsess over finding the lowest mortgage rate.
Obtaining a mortgage for the first time can seem overwhelming. There are so many things to consider when shopping for a mortgage besides just your mortgage rate.
While new research shows that more than eight in 10 Canadian internet users have made an online purchase in the past year, further evidence indicates that as many as six in 10 feel vulnerable to fraud while conducting online transactions.
Take a look at some of the most powerful and luxurious cars from the Oscar-winning movies The Wolf of Wall Street and American Hustle.
A comparison between two of Toronto's airports: Billy Bishop and Pearson. Learn about their naming & history, service & destinations and more!
Shopping around for insurance before you buy your new car may help narrow down your options.