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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 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.
Be aware of exclusions within your policy to avoid a denied travel insurance claim.
Here’s how disobeying road closures could void your auto 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.
Take your savings strategy beyond a mere resolution and turn it into a reality in 2022.
It helps to know your credit score well before applying for a mortgage.
Here are a few simple tips for spending less on your least favourite car costs: gas and car insurance.
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%…
Travel insurance is a must-have, especially if you have a pre-existing condition.
Package theft is increasingly common, but will your home insurance provider cover the cost of those stolen items?
If you’re a snowbird, here are some crucial questions you should ask yourself before taking flight for the winter.
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.
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 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.
A third of today’s homebuyers are relying on financial help from their parents to make their purchase.
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 is how to close a bank account the right way and what happens when you don’t.
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?
From installing new garage doors to increasing curb appeal with landscaping, learn which home renovations have the best return on investment.
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.
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.
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.
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.
Despite the COVID-19 pandemic raging on, fear in the financial markets is easing. And that’s exactly what new borrowers want to hear.
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.
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?
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.
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.
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.
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.
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.
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.
Check out the best credit card welcome offers for the month of December.
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.
Those who are strapped for cash may want to jump at the opportunity to transfer the balance on their current credit card to another card at a lower interest rate.
We’ve heard from experts and policymakers for years that Canadian debt loads are a growing problem.
This is how you can get your credit score and improve your rating before applying for a mortgage.
Canadians are spending more time in transit commuting to work than ever before. Whether it’s by car, public transit, walking or riding a bike, as Canada’s working population grows, so does their commute time.
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.
Scotiabank’s customers report illegitimate charges on their credit card statements. Be sure to check your statements often.
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.
These are the top credit cards, bank accounts and investment product winners of Best of Finance 2019. Earn the most rewards, spend less and save more money…
Negotiating a great deal on your mortgage is kind of like asking your boss for a raise – you need to do a bit of homework before the meeting, go in prepared and confident, and if you’re making a fair request, you should leave…
Check out the best credit card welcome offers for the month of October.
When it comes to planning your bachelor or bachelorette party, a few savvy tips can help you enjoy time with your best friends and family before your big day.
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.
Mortgage brokers have access to rates from many mortgage-specific lenders and major banks, enabling them to find the best product for you. This is how they can save you money.
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.
The new technology allows Canadians to temporarily block in-person international charges as well as lock their account.
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?
Non-pecuniary damages are damages that can't be calculated like a medical bill or car repair bill.
Need to file an insurance claim after Hurricane Dorian? Here are the steps to take and why you should file right away.
As of today, Ontario becomes the fourth province to allow electronic pink slips.
We highlight the best GICs on offer each year based on rate and market relevance.
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.
Looking to earn travel rewards faster? The Scotiabank®* Gold American Express® Card is a quick route to getting you to the destination of your dreams. Read on to find out if it’s the right card to add to your wallet.
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.
Reduce your mortgage quicker with these simple hacks.
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!
Cash-back, points, vouchers for airport lounges or companion flights, first-year annual fee exemptions… Before it’s too late, check out the best credit card welcome bonus offers for this month.
Exchanging currency for travel can cost a lot in fees. Here are some options for choosing the best one before you leave.
Severe weather can rain on your parade, but there are ways to mitigate the frustration and stress.
The promise is in line with industry pressure to revisit the tax burden of insurance products in Canada.
If you're willing and able to pay for the privilege, prestige credit cards can offer both tangible and intangible benefits to cardholders.
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.
New report highlights the impact of bidding wars on property prices over the last two years. Read what’s happening in the Vancouver, Toronto and Montreal housing markets.
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.
Cars or motorcycles in storage are still subject to hazards like fire or theft. In order to protect your assets, keep up a minimum level of insurance coverage.
Here’s why now might be a good time to look for real estate in Victoria.
Seeking a one-of-a-kind experience to make memories that could last a lifetime? Here are some ideas for your next vacation.
Cash-back, points, vouchers for airport lounges or companion flights, first-year annual fee exemptions… Before it’s too late, check out the best credit card welcome bonus offers for this month.
Before you pick out your dream home, you need to know “how much” house you can afford.
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.
The night before a medical exam for your life insurance is important and shouldn’t be taken lightly.
Need a personal loan for an emergency? Or, want to take out a loan for a home remodeling project or your next vacation. Here’s how to get pre-approved.
Paying off your mortgage faster can mean significant savings over the lifetime of the mortgage.
The difference between independent travel insurance and the policy offered by cruise lines could make or break your trip and your vacation budget. Choose wisely.
Credit cards can be a great tool to help you reach your financial goals but use them with care.
Dog’s may be man’s best friend, but that doesn’t mean they don’t get angry.
A DUI can leave you with jail time, hefty fines, and other consequences. One is a higher auto insurance rate or even loss of coverage.
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.
Cash-back, points, vouchers for airport lounges or companion flights, first-year annual fee exemptions… Before it’s too late, check out the best credit card welcome bonus offers for this month.
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.
Whether you’re looking to keep your valuables safe or to protect your home while you’re away, these tips can help.
What's the best way to pay for a renovation project?
Less than 10% of Canadians could buy a home in Toronto according to RATESDOTCA’s analysis.
Use a mortgage payment calculator and consider all your expenses.
By consolidating all your debts into one loan, you can pay your debts off right away and then pay off the personal loan.
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.
Learn the best credit cards for grocery store purchases and rewards.
Is it cheaper to rent or own in your city?
Use these helpful tips to find the right credit card for your particular needs.
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.
Business is thriving and you’re ready to buy a home. Read these tips to improve your chances of getting approved on a mortgage when you’re self-employed…
Insuring your home-based business may not be at the top of your to-do list, but it's crucial.
Ever wondered if the new brands in digital banking are regulated? Here’s how you can find out.
Money getting tight? Here’s what’s causing it.
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.
The Carbon Tax was introduced to encourage Canadians to be more energy-efficient, and to offset these increased fuel costs, the CAI incentive depends on what province you…
The Toronto housing market saw a modest increase in average home prices in the first quarter of 2019. However, major markets outside the GTA are trending a lot better in comparison…
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.
Motusbank, an online subsidiary of Meridian Credit Union, announces its product offering in Canada.
A new company is now also promising to provide an alternative form of relief for potential home buyers. Fraction, the Vancouver-based start-up, says it will take up to a 40 percent stake in the buyer’s property…
The pros and cons of a home mortgage versus a home equity line of credit.
Is the Marriott Bonvoy™ American Express® Card good?
Home renovations can have a direct impact on your insurance policy. Here's how to make sure you're covered.
The new eHOME service allows Scotiabank customers to fill out a mortgage application online and track it in real-time as it goes through the review process…
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.
More than half of Canadians would choose to renovate their current home instead of moving to a new home, our survey results show.
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.
If you enjoy staying at Marriott properties or you’re looking for a way to earn hotel points, then this card is a winner.
Meridian’s 1.98% rate on two-year fixed rate mortgages may be good news for potential homeowners in Ontario. Buying a home has become increasingly difficult…
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.
Rest assured with these tips and tricks to breeze through airport security, stress-free.
Will your next home loan be completed exclusively online with no human contact?
The national average price for homes sold in January 2019 was just under $455,000, which could be intimidating for a young adult who wants to break into the market.
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.
Meridian launches a new subsidiary named Motusbank, a full-service digital bank that’s set to change the way Canadians handle their finances…
Climate change is making historical records unreliable as a tool for predicting weather-related risks.
Do you understand the ABCs of saving? From RRSPs to GICs, learn more about what investment types are ideal for your life stage…
Among the 10 provinces, insurance rates vary considerably, with Quebec holding the lowest average premium and British Columbia (B.C.) registering the highest figure.
According to our recent study, 84% of Canadians say they would spend their savings on other financial priorities, rather than on their nuptials.
Purplebricks offers a flat-rate service, enabling owners to sell their homes without paying commission to a real estate agent. This new model could save Canadians…
Distracted driving-related collisions are not only devastating from a human perspective, but can cause your car insurance rates to skyrocket.
How will the Canadian real estate market shape up in 2019? Here are a few things to consider.
Here are four great credit cards that can reward you on each dollar you spend and can make your holiday hunt a little jollier.
We’re heading into the final stretch of the holiday shopping season, but do you really need everything on your Christmas list? Cut back on expenses and stretch your budget by…
It’s been a long, expensive year for Ontario drivers as auto insurance rates keep increasing.
Learn the Best of Finance winners for 2018.
Here are six ways you can ensure you’re breathing easy without looming debt on the morning of December 25.
Here are our top three reasons for getting a better credit card for your 2018 Black Friday and Cyber Monday purchases.
Looking for the best cash-back credit card or savings account? Not sure which travel rewards card will get you a free flight the fastest? The Best of Finance Awards chooses the top products in each category. Check out the nominees for…
Thanksgiving is almost here and we wanted to share some tips and tricks to make sure you save the most money this year!
Are you a cinephile looking for every possible opportunity to spend more time in front of the big screen? Enter the Scotiabank SCENE VISA®, which rewards film lovers with – what else? Free movies! Read on to find out if it’s a good card to add to your wallet.
With the President’s Choice Financial World Elite Mastercard, you can earn points towards free groceries and clothes super fast. Being one of the best rewards cards on the market, PC Optimum points are earned…
Find out how much you can save in points towards free groceries and merch with one of the best grocery rewards cards on the market with no annual fee! The PC Financial World Mastercard…
Buying a cottage or jet-setting the world? RATESDOTCA takes a look at what’s the better option for you during your vacation time, and what you can expect to spend.
Ontario has the highest car insurance rates in the country. However, now that Doug Ford’s PC party won the election in Ontario, it’s unclear how rates will be affected.
For all you frequent flyers, the Scotiabank Passport™ Visa Infinite* provides you with travel benefits and insurance… along with NO forex fees on your international purchases, making it one of the best options for…
From the realtor to home inspector – You can expect to work with many mortgage professionals when buying a home. Read more on what each pro does, costs, and the cons of…
The SimplyCash™ Cards from American Express come with some of the best cash back options on the market, with both a no-fee and $99 annual fee version.
Looking to earn points towards groceries? The PC Financial MasterCard is your ticket to free food, fast. Read on to find out if it’s a solid card for your shopping habits and just how much money it can save you.
Calling all jetsetters! The American Express® Gold Rewards Card offers a 25,000-point sign-up bonus – enough to take a long-haul flight in Canada or the U.S. But charge cards aren’t for everyone…
An RRSP is viewed as long-term investment, but it can come in handy for big purchases that you want to make right now, like a new house. You can get up to $50,000 tax-free by looking to the Home Buyers’ Plan (HBP), a Government…
Loblaws is merging its PC Plus loyalty points program with Shoppers Drug Mart’s Optimum program. The new points program is called PC Optimum and points will be earned at the same rate as the PC Plus program…
Your debt-to-income ratio can affect your ability to qualify for a loan or a mortgage.
Choose a credit card that ultimately benefits you in some way, whether it be through travel points, cash back, or even just a good deal on interest rates.
Loblaw Companies Ltd. recently announced it is merging its PC Plus loyalty program with Shoppers Drug Mart’s Optimum program.
Ride-sharing company Uber recently opened applications for its own rewards credit card.
Learn the Best of Finance winners for 2017.
Looking for the best travel rewards credit card or TFSA? The Best of Finance Awards recognizes the top contenders. Check out the nominees for the 2017 awards and enter our contest for a chance to win a $100 Amazon.ca gift card…
Whether you’re looking to borrow money for a new car or even a vacation, it’s best to understand your options before applying.
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%.
Following the announcement of the Ontario Fair Housing Plan this past April, and two key interest rate hikes there after, property prices have definitely decreased, making many people wonder if they should buy or rent a house.
From clothing and technology to snacks and supplies, a recent RetailMeNot.ca survey found the average back-to-school spend per family adds up to $883.
Hard to believe that there are only a few weeks left before the kids head back to school. For Mom or Dad, that means back to meal planning! Here’s how to save money on your weekly grocery list while staying organized.
A recent survey revealed 66% of Canadians in a blended family say they face financial hurdles because they didn’t discuss finances before moving in together and 47% are stressed about it.
Canadian customers will soon be subject to additional fees when paying for purchases with certain premium credit cards, now that Visa and MasterCard have entered into a settlement agreement stemming from a class-action lawsuit that will see both companies make changes to their “No Surcharge Rule”.
It’s no secret that Toronto’s real estate market is rising at an alarming rate. Just in the month of March, it was announced that the average home price increased by 33.4 per cent, year-over-year. The average price for a detached home in Toronto currently sits at $1.21 million. In response, Toronto Mayor John Tory, Federal …
There may be no more difficult topic to broach with another person than money.
The beloved minivan has become somewhat synonymous with the word “family.” But what makes a great minivan? What makes it worthy to haul you and your loved ones around from school, to soccer practices and across country on family road trips?
The ban, now lifted, initially came across as a bold move by the world’s largest retailer.
The bank says raising the rate is not a decision it takes lightly and they considered the full impact on customers before moving forward with the change.
Looking for a card that will help you earn travel rewards faster? Enter the TD Aeroplan Visa Infinite Card. Chock-full of features with many ways to earn Aeroplan miles, it’s a popular choice for vacationers. But is it right for you? Read on to find out!
If you’ve always dreamed of running a home-based business, it’s essential to do your homework first. Read on for more about what you require when running a company from home.
Considering eliminating meat from your diet? It may not be as expensive to eat healthy as you think. Read on for a list of ways to save on groceries!
Nearly two years after the government requested Visa and MasterCard lower their interchange fees, federal finance Minister Bill Morneau has announced that the government will step in to assess the situation.
No surprise this time around: The Bank of Canada is leaving the overnight lending rate at 0.5% – where it has been since July of 2015. Read on to find out how this will impact fixed and variable rate mortgages.
In a move that will further alter the banking landscape in Canada, Meridian credit union is looking to join the big five in becoming a federally chartered bank by 2018. However, all of its services will be based online rather than in brick-and-mortar locations.
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.
There are a number of challenges to find a good place to live in Toronto’s and Vancouver’s red-hot real estate markets.
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.
The Brexit vote brought about plenty of reaction on the international stage when a majority of U.K. voters sided with leaving the EU. In Canada, Brexit is already affecting the Loonie, it could have an impact on our real estate market and it may alter some of our travel plans.
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.
All retailers have to pay a credit card fee which is usually between 1% and 2.5% of the cost of the item being sold. Those fees vary depending on where the customer is shopping and what card they are using.
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 Canada’s largest-ever transfer of wealth: Canadian Baby Boomers will be on the receiving end of inheritance worth a total of $750-billion over the next decade.
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.
Like the Bank of Canada, the U.S. Federal Reserve controls American interest rates in order to stimulate the economy. They didn’t make a move to change rates in their latest announcement, but markets are still reacting. Here’s why – and how it could affect your Canadian cost of borrowing.
Do you suffer from investor anxiety? A recent BMO InvestorLine study finds 97% of Canadians feel uneasy about today’s markets. Here’s how you can overcome anxiety over your investments, and determine if they’re the best fit for your money.
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.
Are you looking to start saving towards retirement? There’s no better way than an RRSP. RRSP, short for Registered Retirement Savings Plan, is a tax-sheltered account where your money can grow tax-free.
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.
The latest slew of mobile payment apps just might be enough to convince Canadians to leave their physical wallets at home. Hot on the heels of Apple Pay, here are 5 options that make shopping a chic and secure experience, from resident finance tech expert Justin Kozuch.
As real estate values skyrocket in Canada, many homeowners find themselves with more home equity than they could have ever imagined. Yet, while a lot of Canadians are house-rich, they’re struggling to earn a decent return in the low interest rate environment.
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.
Offer conditions such as upon inspection or approved financing are important buyer safeguards – but can put home bidders at a disadvantage. Our friends at TheHousingBlock.com share what conditions you can – and shouldn’t – negotiate on.
The CRA may have granted Canadians an extension on their taxes to May 5th… but many Canadians are still dragging their feet on filing. Just can’t get motivated? Accountant pro Amir Azami shares his top tips for getting around to it… and what you should know about tax credits, software, and more.
Thinking of buying a pre-construction condo? There are benefits to buying brand new – but buyers should be aware of key financing requirements.
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!
Cyber Monday is the online version of Black Friday – instead of stampeding for deals along with the rest of the door crashers, you’re free to shop with the click of a mouse. However, deals still vanish at the blink of an eye – here’s how to get prepped for the biggest online shopping holiday of the year.
Life insurance coverage is meant to give you and your loved ones financial peace of mind in a worst-case scenario – but what if your insurance company won’t pay? If you’re not careful, there are a number of behaviours that could make your coverage null and void. Here are the top mistakes to avoid.
Perhaps the biggest financial challenge newcomers face is the inability to obtain credit. Here's what you should know.
Living expenses can be huge in college or university. Living in a dorm or off-campus housing can cost up to $30,000 over four years! But would you consider actually buying a home for your child to live in while at school?
Back to school season is big business for retailers – it almost rivals that of the Christmas holidays! Looking to spend less on your supplies, clothes and accessories this year? Our savvy shopping tips will send them back with class – all on a budget.
Living on a budget? Scoring free stuff for students can really help stretch a dollar. Check out these freebie finding tips!
Canada’ is full of prime camping spots – and summer is the prime time to pitch a tent and enjoy your surroundings. Setting up camp can be pricey, though – here are a few ways to score equipment for less, and how to find cheaper (or even free!) campsites.
Stigmatized properties are homes where crimes, death, or drug trade may have occurred. Often, they sell for far below market price – but could you bring yourself to live in one, even for a bargain?
There’s no way around it – kids are expensive! Fortunately, there are resources for cash strapped parents. Check out this list of government programs, along with the investments to make now to get your kids started on the right financial foot.
What is the most affordable housing market in Canada? We break down buying conditions in each province to assess where you’ll get the most for those hard-earned housing dollars.
Shopping around for insurance before you buy your new car may help narrow down your options.
A common retirement strategy among small business owners is to depend on the sale of their small business – but that may not be enough. Here’s a list of other ways entrepreneurs can save for their retirement while simultaneously running their business.
“Grey divorce” rates have increased among Canadians aged over 55. Splitting later in life presents unique financial challenges as boomers look to start over while keeping their retirement plans on solid ground.
The predictions are in – Canadian economists have revealed their forecasts for Canada’s economic outlook for the coming year. What’s in store for the housing market, interest rates, employment and GDP growth? Read on to find out.
Looking for creative and educational gift ideas? Consider the gift of financial literacy! Whether you’re buying a brain teaser for the seasoned investor on your list, or an intro to money management for kids, check out our gift guide for all ages!
Christmas is just around the corner, and with it, holiday party time! If you’re responsible for hosting a party, whether it’s for work, a group of friends, or family, the pressure is on to plan something special. As you know, though, Christmas can be a hit to your bank account – but not if you plan ahead of time. Here are some party ideas for cutting back on costs.
If you’re a smoker, you have tons to save by quitting – both your money and your health! Just how much could you save by kicking the habit? Check out our quitting calculations, and the cost of smoking cessation methods.
Thanksgiving offers the chance to catch up with loved ones – and money is a subject sure to crop up at the dinner table. Whether you’re fielding questions about your income, or discussing matters such as inheritance or parent care, read our tips for a productive – and peaceful – money discussion.
Daily deal sites are full of discounts so great, you can’t help but snap them up. Before you rush to buy the next spa or trip package to come your way, though, ask yourself: are you overestimating the deal – and is it feeding your overspending habits?
Fighting over finances is common, with 86 per cent of Canadians saying it’s a constant source of conflict. What are we fighting over? Turns out, most arguments are sparked by differing takes on money management and long term financial priorities.
Finding good childcare is a huge conundrum facing Canadian parents. Arm-length waiting lists and thousands of dollars in monthly fees can greatly limit the options for many families, especially those who rely on subsidized care. What’s a busy working parent to do?
Breakups are never easy, but they can be especially complicated when finances are involved. Depending on your province and the length of your relationship, the definition of “mine” and “yours” can change.
Being your own boss certainly comes with some sweet perks- nothing beats creating your own schedule and choosing your work. But self-employment can leave you more vulnerable in times of need, and present unique challenges if you’re looking for some extra cash. Fortunately, you are still eligible for employment insurance and loans – the key is to be prepared.
It’s unavoidable – bad luck is just a part of life. And when it comes to your financial standing, a twist of fate can leave you broke in a flash. Prepare for the worst – job loss, illness and other unforeseen events – with a savings plan that’ll pad your crash landing and help you recover your finances.
Planning to leave your parents’ home? “Fleeing the nest” can be an exciting coming-of-age milestone – but it comes with bills, bills, and you guessed it, more bills. Whether you’re off to experience student housing or are a new grad looking to establish yourself, budgeting and saving skills are vital to becoming financially independent.
Jim Flaherty’s new rule announcement for amortizations and refinancing has left a lot of Canadians puzzled this morning – what will this mean for those already in government-backed plus-25-year mortgages? And is there a silver lining when it comes to mortgage interest paid over time?
It is ever a good idea to hand your kids the plastic? Will giving them access to credit at an early age help teach financial responsibility – or will it end in a mountain of debt? Learn how to walk kids through the life lessons of credit and ensure they’ll grow up to be financially responsible adults.
The credit card you choose will depend heavily on you, your goals, and how much you mind paying per year for the privilege of collecting those rewards.
With Governor Mark Carney hinting that the Bank of Canada will be increasing interest rates comes Scotiabank’s UVRM (Ultimate Variable Rate Mortgage) offering protection from rate increases. Here’s what the Ultimate Variable Rate Mortgage offers.
No one wants to get audited, but it happens. If it does happen, though, you’ll want to be prepared. Today we’re going to talk about the red flags CRA looks for and how to avoid waving those flags, as well as how to prepare for an audit, should it ever occur.
There’s no doubt, your home is likely the largest purchase you’ll ever make. If you arrange your mortgage through the bank, it is their responsibility to ask you if you want to insure your mortgage through them.
Here are the benefits of using the American Express Gold Rewards Card and the American Express Business Gold Rewards Card.
I’ll admit it, I used to be one of those naïve individuals who believed that if I was paying a professional to do something that I couldn’t do myself, then they had to have my best interests at heart – no matter what. Sadly, the older I get, the more I realize that this isn’t the way the world works.
Most people assume that estate planning is for the elderly, and for most people, it is. That is, your estate won’t be settled until after you pass, and most people’s lives tend to expire later on in life. But sadly, this isn’t the case for everyone. Some of us die long before our time, or become too ill to function. If you’re not prepared ahead of time, then you’ll have no control over where your assets go.
With Christmas just around the corner, many of us are looking for budget-friendly tips and hoping not to overspend during the festive season. By getting back to basics we can all achieve a wonderful Christmas without breaking the bank.
I have two friends, Ben and Jill, who both have the uncanny ability to sniff out a deal. And if they can’t sniff one out, they make their own. Seriously, I have never known anyone else to find deals like these two do.
Will the traditional method of saving our income until our 60s lead to a comfortable retirement?
The average age people in Canada retire is 63. Some retire later because they can’t imagine life without work, while others continue working only because they have to. When do you want to retire? How are you going to make sure you stop working when you want to?
The old expression “Nothing ventured, nothing gained” is especially true when it comes to investing, but some types of investments are definitely safer than others. Before considering investing in stocks, bonds or commodities, take the time to do a personal risk assessment.
There seems to be a few myths about using coupons and the types of people that use coupons. I’m afraid that my husband and I don’t fall under these judgments. We treat coupons like we treat a dollar bill, if you found $5 on the ground wouldn’t you pick it up? I know I would.
In order to buy a home (or to get a mortgage to buy a home), you need to have a down payment, which has to be at least 5% of the home’s purchase price. Lenders typically group mortgage shoppers with deposits between 5 – 20% of the home purchase price, into the ‘slightly higher risk’ category.
When it comes to a mortgage, the first thing most people want to understand is how much can I borrow, or how much can I afford. Nobody wants to make the mistake of biting off more mortgage debt than they can chew! Here’s how much you can afford.
Let’s look at why it’s a good idea to spread your money out and how you can better manage it when you do.
Buy first, or sell first? This is one of the biggest stresses for sellers. Unless you time both the purchase and sale perfectly, you could end up in one of two scenarios: living in a motel temporarily or paying two mortgages at the same time.
Over the last few years, access to banking products and services has become even more complex given new laws and regulations designed to prevent money laundering. For newcomers to Canada, securing a mortgage can be a bit tricky. Here’s what you need to know.
All you want is the best mortgage product at the best possible rate, so you aren’t wasting money on paying higher interest charges then you have to on what is probably be the largest debt of your life. Is that too much to ask for? Here are a few tips on how to negotiate the best mortgage deal.
That’s right, we’re telling you not to sign your bank’s renewal letter, even though it’s so easy to do! Here are 5 reasons why you should force yourself to set fire to your mortgage renewal letter, or at the very least recycle it.
Similar to the extra warranty they try to sell you when you buy a laptop or refrigerator, mortgage life insurance is the ‘add-on’ product that helps to boost the lender’s profits. Here’s the background information that you need to make sure you don’t get taken for a ride.
There’s a lot of talk about mortgage rate increases in Canada. After years of ultra-low interest rates, there’s only one direction for rates to go – up. Here are a few tips to help you prepare for the rate rise.
Are you new to the housing market and looking for your first mortgage? Perhaps you already have a mortgage but you’re looking for a better rate? Or maybe your mortgage is up for renewal? Regardless of your situation, here’s our checklist to help you find the Best Mortgage Rate.
Put your hand up if you have so much money left after you pay your monthly bills that it becomes a burden. Does anyone have that problem? Anyone? We most definitely don’t have spare $100 bills clogging up our jean pockets either.
One of the questions we hear most is – when should I break my current mortgage to get a better rate? Yes, the grass is always greener on the other side (especially when it seems like everyone has a better rate than you do). But when it comes to your mortgage, it’s best to weigh out the costs first to determine if it’s worth it.
Learn as much as you can about your potential investment before making a final decision.
There are several indicators that are important to watch which affect mortgage rates in Canada. Find out what they are.
Here are 10 tips to help you save on your grocery bill.
Recently there has been a lot of concern about rising home insurance premiums. Some homeowner premiums have increased as much as 30%, even without a claim being made in the previous year. Don’t get stuck with a ridiculous rate. Believe it or not, there are answers to the home insurance blues.
The CMHC released their latest Housing and Marketing Information report on Mortgage Lending 2009. It provides some great information on the volumes of mortgages issued by banks and other lenders as well as the market share for CMHC approved mortgages in 2009.
The Governor of the Bank of Canada, Mark Carney, gave a speech in Toronto today regarding the Current Issues in Household Finances.
The private sale of homes is becoming more common these days, as technological advances allow buyers different avenues into your home instead of having to visit a real estate agent’s office to find out what’s available in the community.
With the way things are in the economy at the moment, many Canadians are finding it hard to see beyond all of the bills that are mounting up with no clear way to pay them.
Based on data from 1950 to 2007, the average Canadian could expect to save interest 90.1% of the time by choosing a variable-rate mortgage instead of a fixed.