RATESDOTCA Team

If a child living at home drives, you should add them to your car insurance as soon as they have a provisional or full license.

The Équité Association reveals the top 10 stolen vehicles in Canada. If yours is on the list, you could end up paying more for auto insurance.

Here is how to close a bank account the right way and what happens when you don’t.

Learn the pros and cons of rustproofing. Do you really need the service?

Mortgage pre-approvals save time, angst, and give you leverage to make serious offers before someone else beats you to it!

If you’re contemplating spending winter abroad, here are some crucial questions you should ask yourself before taking flight for the winter.

Is a store credit card right for you? Here are the top perks and downsides of retail credit cards.

Travel insurance is a must-have, especially if you have a pre-existing condition.

Now that we’ve reached a peak in interest rates, the stress test prevents many Canadians from buying.

Be aware of exclusions within your policy to avoid a denied travel insurance claim.

There’s no stress like the end of a marriage. And one of the least fun parts of the divorce process is divvying up assets.

The federal government introduced a new savings plan to help first-time homebuyers fast-track their savings into a new home. But what is it, and how useful is it for you?

If you choose to break a closed mortgage before the end of your term, you will pay a penalty. So, when does it make sense to end your mortgage early, and how does the process work?

Work crews shut down roads for several reasons. Here’s how disobeying road closures could void your auto insurance.

Check your credit history before you renew your mortgage in 2023.

Take your savings strategy beyond a mere resolution and turn it into a reality in 2023.

From getting to the airport early to having the right travel insurance coverage, here are five easy ways to make holiday travel painless.

When time falls back on November 6 at 2 a.m., you may get an extra hour of sleep, but it can also pose potential safety risks on the road. Here’s how to prepare yourself.

To make sense of the rollercoaster that is the Canadian housing market, we turned to five real estate industry experts to shed some light on how this year's rate increases are impacting buyers and owners.

Do you have the right coverage for your stored-away valuables? Be sure to review your home, condo, or renters insurance policy.

Car rental companies typically offer four types of auto insurance for the vehicle you rent. But do you actually need to shell out the extra cash for these protections?

Drivers need to be extra cautious in residential neighbourhoods and school zones as students return to the classroom.

If you are over 65 and spending time outside of Canada, you may want to purchase travel insurance. This can help with medical costs in the event you suffer illness or injury abroad.

From installing new garage doors to increasing curb appeal with landscaping, learn which home renovations have the best return on investment and how they affect your home insurance rate.

Parents can help their adult children break into the housing market by co-signing a mortgage. But there are risks to consider.

Not every homeowner can afford to make a 20% down payment. Enter mortgage insurance. Here’s how it works.

With stiff competition in housing markets across the country, you may be pressured in to buying prematurely. Here's how to stay grounded in your purchase.

If you plan to live the van life, make sure your home on wheels and your belongings inside have the proper coverage.

Trip protection coverage can be an excellent option if you need to cancel your hotel or flight reservations. But it may not provide the comprehensive medical coverage and benefits of travel insurance.

All it takes is a simple tumble to ruin your vacation. Travel insurance makes it easy to avoid costly medical bills while abroad.

Here are a few simple tips for spending less on your least favourite car costs: gas and car insurance.

Truck versus SUV? Considering the benefits and drawbacks of each can help you decide.

Insurance providers offer many home insurance discounts. Find out if you qualify.

Do you know if your auto insurance will cover a guest driver’s collision?

A reverse mortgage is a home equity product that allows homeowners aged 55 years and older to access up to 55% of the value in their homes. Homeowners can choose to receive the money…

Seize the chance to save on auto insurance when opportunity knocks.

Here’s how different auto insurance claims can impact your car insurance premium.

Knowing the ins and outs of your travel insurance policy and the insurance provider’s claim-filing process can help avoid problems.

Avoid the following five bad driving habits to keep your auto insurance premium in check.

From preparing your vehicle to calling your car insurance company, here’s what to do before getting your car towed.

It helps to know your credit score well before applying for a mortgage.

While cars and roads get safer each year, crashes still happen. Here are some tips to better maneuver your vehicle and maintain a good driving record.

Eliminate any chance of buyer’s remorse with a thorough test-driving experience.

Consider these details before selling your vehicle, especially if you’re leasing or financing.

Should you get a fixed mortgage rate or variable mortgage rate? Learn about how these options are different, and which one is the best fit for your mortgage needs.

Holiday disasters can happen when you least expect them. Here are a few cautionary tales to gently remind homeowners to be careful during the hectic (and sometimes hazardous) holiday season.

If you decide to deliver fast food, you can skip the dishes, but don’t skip the auto insurance coverage you need.

Travelling south for the spending frenzy? Ensure you have the right auto and credit card coverage.

Deal hunters expected to descend on the malls en masse on Black Friday will make parking lot driving riskier than usual.

Here are some simple tips for finding a fuel-efficient vehicle to help you decide on the best choice.

While one insurance provider might be allowed to deny you coverage, the entire industry cannot.

Separation and divorce hold many unknowns. For many families, insurance is one area of uncertainty.

Canadian winters demand extra caution. Follow these winter driving tips to get you and your car ready for what lies ahead.

Whether it’s travel points, cash back, or even a low interest rate, many credit cards have additional perks that can suit your lifestyle.

Traditional auto insurance policies provide coverage for a year, but there are some circumstances where a driver may need a shorter policy.

Winter driving can take quite a toll on your car (pun intended). Not only is it messy, slippery, and slow – but gas can also get very expensive, especially since a drop in temperature can increase fuel consumption by 16%…

Package theft is increasingly common, but will your home insurance provider cover the cost of those stolen items?

According to Statistics Canada, the cost of gasoline was up by 32.8% year-over-year in September.

Whether you're planning a month away or more, it's time to get ready for your adventures as you follow the sun south.

Many car insurance companies offer discounts for those aged 60 and older since they are more likely to be safe drivers.

It will protect your contents in the event of loss or damage, and it also provides liability coverage.

There are several free credit monitoring services available to consumers. However, lenders don't typically use these scores to determine your creditworthiness.

Some aspects of credit scores can be confusing. As a result, common myths circulate and lead to misunderstandings or missed opportunities.

Learn several factors that can influence the rate you pay for your home insurance coverage.

Make sure your teen driver hits the road in a safe, reliable, and affordable first car.

Planning a road trip this Labour Day? Here are some tips for saving when you fill up the tank.

Having more than one credit card can benefit your credit score. But, can you have too many?

A few of Ontario’s largest cities have lower insurance premiums than the provincial average.

Taking the time to understand car insurance may be about as fun as vacuuming a carpet. But having the proper knowledge can help ensure you have the protection you need at the price you want.

The cost of auto insurance policies can vary by hundreds of dollars depending on a myriad of variables, including which insurer you choose.

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.

Here is what you should do if an everyday road hazard or an unforeseen event triggered by poor weather or construction damages your vehicle.

Where you live and the type of dwelling may affect your home insurance premium. Learn several factors insurance providers use to determine your rate.

Motorists with spotty driving records may have a tough time finding affordable auto insurance. Here’s what you can do about it.

The Bank of Canada will have more than a month to monitor economic data ahead of its next rate decision meeting planned for early September.

As more retirees look to reverse mortgages to get through their golden years, one of the country’s two lenders in the space is now offering more options.

For hopeful homebuyers shut out by soaring prices, renting has usually been more affordable.

One of the greatest bull markets in Canadian real estate history has resulted in Canadians amassing record mortgage debt.

Despite all the thought that goes into shopping and applying for a mortgage, comparatively little goes into what to do with your mortgage if you die.

Despite home prices having soared 38.4% in just the past 12 months, it could be a lot worse for young buyers if it weren’t for one thing: interest rates staying ultra-cheap.

Canada’s dramatic rise in home prices over the past year may be easing, but that’s little comfort for hopeful buyers who are shut out of the market.

The divide between average fixed rates and their floating-rate counterparts is now approaching the largest it's been since August 2011, the last time it was over one percentage point.

Bond market forecasts now suggest interest rates could climb up to 200 basis points before they level off, potentially over the next five years or so.

The biggest challenge now facing the Bank of Canada is keeping a lid on inflation expectations, and it's working overtime on this battle, taking every opportunity it can to calm markets.

Bank of Canada (BoC) researchers have developed a new way to detect over-bullish home price expectations across Canadian cities.

Canada isn’t the only country with stratospheric home prices. But its pace of price growth does lead the way among the G7 nations.

Nearly half of Canadian seniors say that home equity is a vital part of retirement planning.

Nearly three-quarters of first-time buyers in Canada’s largest cities fear they won’t have a sufficient down payment to enter the housing market.

If you believe market predictions, mortgage shoppers who snapped up record-low rates in 2020 will likely face higher rates at renewal.

When you buy resale it’s someone else’s home. You understandably want to make it your own. But how do you renovate when you just blew all your cash on a down payment? Here’s one way.

Despite fresh lockdown restrictions, the number guessers (economists) seem to universally anticipate strong growth ahead. Perhaps too strong.

For years, housing critics have argued that home prices are dangerously detached from fundamentals.

Aspiring homebuyers are itching for property holders to start listing their homes. They yearn for a deluge of supply, so it helps them buy at better prices.

5-Year fixed rates fell at multiple lenders over the last week, but only by about 5 basis points (1 basis point or "bps" = 1/100th of a percent) on average.

Here’s something that will surprise very few. Canada’s parabolic rise in home values is killing the dream of homeownership for young Canadians.

It could become more challenging for people to get a mortgage. Come June 1, Canada’s banking regulator will use a new method of qualifying mortgage applicants

When mainstream lenders approve a mortgage application, it means they’ve done enough due diligence to know the borrower has a low likelihood of non-payment.

Three more of Canada’s largest metro areas, including the country’s biggest market, the Greater Toronto Area, are not considered “high” risk by Canada’s housing agency.

A strengthening economy. Soaring home prices. Surging bond yields. Rising inflation. These are just some of the concerns the Bank of Canada’s Governing Council will grapple with when it convenes at its next policy meeting on April 21.

With work-from-home a big thing now, and with average home prices over $1 million in some of Canada’s largest cities, thousands of Canadians are finding ample reason to abandon big metro areas.

Canada has 6.08 million households with mortgages. If you’re curious what kinds of mortgages they pick, Mortgage Professionals Canada (MPC) has some stats for you.

You may have more noticed experts in the media suggesting that too many borrowers are gorging themselves on low-rate debt and putting themselves at risk.

Mortgage advisors are constantly urging borrowers to “Get a pre-approval.” What they don’t tell you is that a pre-approval usually comes with a premium.

Alberta’s provincial government has been lobbying for changes to the federal mortgage stress test for the past year and a half, to no avail.

The average price of a Toronto home has surpassed the $1 million mark for the first time ever, amid a pandemic no less.

The Bank of Canada will have plenty to chew on before making its next rate decision on March 10.

Homebuyers have enjoyed nearly a full year of falling mortgage rates. But the tide has shifted.

With mortgage rates now doing a U-turn and heading higher, borrowers are rushing to lock in a rate on a refinance while they still can.

Drivers in Ontario who are covered by Economical will see a rate decrease of approximately 5% as the insurer extends its COVID-19 pandemic relief.

Working from the office is so 2019. The pandemic took remote workplace adoption to a whole new level, allowing many to look farther outside the city for new digs.

CAA’s latest initiative follows the $100 car insurance relief benefit and rate reduction it announced earlier in the year.

When a billionaire investor gives financial advice, there’s usually something to it.

The average price for a house in Canada rose to $621,525 in January, according to new data from the Canadian Real Estate Association (CREA). That’s nearly a 23% jump from just one year ago.

The explosion in home values last year was accompanied by a collapse in mortgage rates. And it’s a good thing, because surging home prices hurt mortgage affordability.

Our economy’s surprising rebound in December caused speculation that rate hikes may be on the table sooner than expected.

If you’re not stoked about taking 25 years to pay off your mortgage, we’re about to show you how to speed up the repayment process. Just one thing, it may not be in your best interest.

Reverse mortgage growth has been phenomenal in Canada. And it’s been that way for years, particularly since rates started plummeting.

In recent weeks, talk of a potential “micro” interest rate has grown louder. That’s largely due to rising COVID case counts and more restrictive lockdown measures.

Despite home prices soaring out of reach for many, a large majority still believe homeownership is a worthwhile pursuit.

Have you ever found yourself wishing that someone would come up with an easy way to compare the lowest rates for all terms, depending on your equity?

You’ve probably seen some ultra-low rates from mortgage brokers on rate comparison websites. Many of those rates (not all) are low-frills mortgages. That means they have restrictions in exchange for a lower interest rate.

The Financial Services Regulatory Authority of Ontario published its latest rate filing decisions. Find out if your insurance provider increased or decreased its rate.

For the better part of last year, it seemed the pandemic would never end. Now, a new year brings new hope that vaccines will shift our economic recovery into second gear.

Learn how much debt the average Canadian has, plus six great tips to help you pay off your debt fast.

The seemingly unstoppable ascent of home values will extend into 2021 — if the latest prominent forecasts prove true, that is.

If adopted by Toronto’s city council, Canada’s largest city will prohibit turning right on a red light at 15 intersections to help improve road safety.

The Alberta government estimates ditching plate stickers on private passenger vehicles, fleet vehicles, and permanent trailers will save taxpayers about $1.2 million per year.

HSBC made headlines Friday when it unveiled Canada’s lowest-ever mortgage rate — a 0.99% 5-year variable for default-insured borrowers.

Learn a few simple things you can do to cut holiday costs before the new year.

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 Financial Services Regulatory Authority, Ontario’s auto insurance regulator, has published its latest rate filing decisions that may affect the cost of the premium you pay. Here’s what Ontario drivers should know.

Optimistic vaccine news has boosted market sentiment. Bond yields, which traditionally lead fixed mortgage rates, have risen somewhat as a result.

Buying a home can be intimidating, especially if you’re a first-time buyer. You have to worry about mortgage approvals, contracts, closing procedures, fees, deposits and all the little things that can go wrong.

Canada’s average mortgage size is growing at almost three times the rate of inflation.

Not even a global plague can stop Canadian home prices, much to the dismay of renters who want to be buyers.

More than nine out of 10 Canadians want to stay in their homes as long as possible in their golden years. And now, Equitable Bank offers a new option to make that possible.

Economic optimism has bond yields surging versus last week. That’s got many wondering if fixed mortgage rates will soon follow.

The Ontario 2020 Budget includes an outline of how the province will continue to monitor the impact of COVID-19 on the provincial auto insurance system to ensure consumers are being treated fairly.

If you’re confused about what’s in store for Canadian home prices, you’ve got company.

Borrowers were reassured this week that rates will remain ultra-low for the next two years.

When stressing about finances, have you ever thought, “if only I made more money, all my problems would be solved.”

The COVID-19 pandemic has upended Canada’s rental market, driving landlords to boost incentives and offer renters perks to help fill their available units.

Hundreds of thousands of Canadian households are still not paying their mortgages, by agreement with their lender.

Toronto house prices may be climbing, but rents are plunging. And they have been since the start of COVID. Does that make it more financially sensible to rent or buy?

British Columbia’s publicly managed car insurance system may be rendered extinct should voters in Canada’s most westerly province oust the incumbent government on October 24.

Briskly rising home prices are once again boosting the minimum down payments required to break into the housing market.

We are excited to announce that RateSupermarket.ca is now RATESDOTCA. Don’t worry, besides a name change, how you compare the best credit cards and mortgages rates will remain the same.

It’s a story we seem to report on several times a year: an unsuspecting homeowner decides to break their current mortgage in favour of one from another lender at a lower rate, only to be whacked with a monster prepayment penalty.

Ontario’s car insurance regulator details how much premium relief is available for eligible drivers to deal with the economic fallout because of the pandemic.

The latest economic gauges are looking up: Jobs are coming back (246,000 in August), home sales are 20% above pre-pandemic levels and home prices are posting record highs.

Those under 35 remain the most optimistic about purchasing a home, with many saying the pandemic has accelerated their homebuying intentions.

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?

Car insurance can be confusing to understand. A new RATESDOTCA survey finds a majority of Canadian drivers’ knowledge of auto insurance and how it works is often influenced by myths.

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.

Bad credit behaviours can result in negative information appearing on your credit report. Some of those details can remain for upwards of 10 years.

A once-in-a-generation pandemic is turning Canadians off city life. Nearly a third of Canadians (32%) say they no longer want to live in an urban centre, according to a new survey from Remax Realty.

When HSBC became the first bank to offer a 5-year fixed rate under 2% in June, it made national headlines.

Experts have warned about the end of mortgage payment deferrals for months. Now those deferral end-dates are right around the corner.

The 2020 Top Safety Picks can help drivers in their car-buying decision by narrowing down the most reliable and dependable vehicles.

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.

With no Bank of Canada rate decision scheduled for August, we turn our attention to Canada’s COVID-riddled recovery.

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.

With high unemployment and a possible recession, many homeowners could face the possibility of defaulting on their mortgage.

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.

Investors almost unanimously expect the Bank of Canada to continue holding its overnight lending rate at 0.25% when it meets next on July 15.

As you get close to making the last of your payments, there are a few things you consider as your days of having a mortgage are nearly over.

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.

Buying a house? Here are some apps that can help you visualize the interior and exterior of your potential dream home and gather all the information you will need on listings.

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.

It seems we ask this question every six months. And this time we’re asking amid one of the worst recessions in Canadian history.

Revisiting and possibly revising the province’s no-fault insurance provisions are among the course of actions a government-appointed committee is reviewing.

The COVID-19 crisis has altered everything from buying and selling decisions to open houses to home price expectations.

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.

Real estate lawyers offer a multitude of services that aid their clients in purchasing or selling a home. They take the legal matters related to the purchase or sale entirely off your hands.

When peaceful protests turn violent, vehicles can be damaged, vandalized, or destroyed. What happens if your car or truck is is damaged by a civil commotion or riot?

A sharp decline in mortgage rates in recent months is driving up the cost to break big-bank fixed-rate mortgage.

The Bank of Canada adopted a decidedly positive tone Wednesday when it left the country’s key lending rate untouched at 0.25%.

Deferring your mortgage payments during the COVID-19 crisis could cost you thousands in additional interest.

Whether you’re looking to find a home to buy or an apartment to rent, try simplifying your search (and making it more fun) with one of these mobile apps.

Your credit report contains a plethora of information and can show you more than just your credit score. Here is how to make sense of those codes and numbers.

Next Wednesday, the Bank of Canada has its first rate meeting since April—and for the first time led by its new Governor, Tiff Macklem.

This week, CMHC projected that mortgage arrears could surge to record highs. But, what exactly are mortgage arrears, and how are they different from mortgage defaults or foreclosures?

Aviva is enhancing its COVID-19 premium discount for drivers across Canada.

There has been a surge in pet adoptions as well as rescue and foster pet applications since the start of the COVID-19 crisis. It’s great to see more animals finding forever homes, but the decision to integrate a pet into your life should not be a rash decision or taken lightly.

It’s hard to find a positive side to a coronavirus pandemic that’s devastated lives and economies around the world.

For those who’ve been hoping to enter Canada’s increasingly expensive housing market while prices are “on sale”, this seems like the chance they’ve been waiting for.