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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.
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.
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.
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.
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.
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.
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.
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.
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.
Knowing the ins and outs of your travel insurance policy and the insurance provider’s claim-filing process can help avoid problems.
It helps to know your credit score well before applying for a mortgage.
Consider these details before selling your vehicle, especially if you’re leasing or financing.
If you decide to deliver fast food, you can skip the dishes, but don’t skip the auto insurance coverage you need.
Deal hunters expected to descend on the malls en masse on Black Friday will make parking lot driving riskier than usual.
While one insurance provider might be allowed to deny you coverage, the entire industry cannot.
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?
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.
Learn several factors that can influence the rate you pay for your home insurance coverage.
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.
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.
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.
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.
Despite fresh lockdown restrictions, the number guessers (economists) seem to universally anticipate strong growth ahead. Perhaps too strong.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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?
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.
When HSBC became the first bank to offer a 5-year fixed rate under 2% in June, it made national headlines.
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.
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.
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.
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.
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.
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.