Why Banks Are Targeting New Canadians
Personal Finance / Personal Finance News / Your Credit Score

Why Banks Are Targeting New Canadians

Establishing a credit and banking history in Canada used to be very challenging for newcomers to the country. However, Canada’s big banks have recognized the opportunity presented by newcomers to create life-long customers – and a new slew of marketing campaigns now target immigrants looking to work, save and invest. Continue reading »

Should Adult Children Get an Allowance?
Saving for Education / Saving For Retirement / Savings / Savings News

Should Adult Children Get an Allowance?

With the cost of living, real estate and education steadily rising, it’s arguable that today’s young adults face steep financial challenges. But does that mean they should depend on their retirement-aged parents for help? In light of reports that suggest today’s retirees are among the richest in history, Ted Rechstshaffen, a Toronto-area financial planner, suggests it makes sense for cash-strapped adults to continue to depend on their financially secure parents. Continue reading »

Get More Money From Your Main Bank
Mortgage News / Personal Finance / Personal Finance News

Get More Money From Your Main Bank

Did you know: Canadians identify their “main bank” as the one where they keep their chequing account. 91% of consumers have one at their primary lender, according to our recent study. But things get foggier when it comes to why they signed up with their bank in the first place – in a recent street poll, many stated they’d been with their banks since childhood. Seems like it’s high time we explored our options for greater value! Continue reading »

Ask the Experts: Should We Tear Down Our Home?
Home Ownership / Mortgage News / Mortgages

Ask the Experts: Should We Tear Down Our Home?

Welcome to RateSupermarket.ca’s Ask the Experts series! In each post, we’ll look at real financial issues from readers, and get the expert take on how they should proceed. Want to take part? Email your finance question to Penelope@ratesupermarket.ca with the subject line Ask The Experts. Here, parents Nina and Keith wonder if they should add on to their existing home – or if a bulldozer is in their near future. Continue reading »

New Homes to Slow, Rates and Prices to Rise: CMHC Q3 Housing Market Outlook
Buying A Home / Mortgage News / Mortgages

New Homes to Slow, Rates and Prices to Rise: CMHC Q3 Housing Market Outlook

It seems everywhere you look, there’s evidence of Canada’s booming new home construction market – but that’s not expected to last, according the the Canada Mortgage and Housing Corporation (CMHC). The national housing agency anticipates developers will stop bringing as many homes to market and will shift focus to selling what’s already built in its quarterly Housing Market Outlook, released last week. Continue reading »

Confused By Canadian Finances?
Personal Finance / Personal Finance News

Confused By Canadian Finances?

A few reports came out this week, underscoring the knowledge gap between Canadian consumers and the state of their personal finances. An annual debt report released by BMO finds household debt levels continue to skyrocket, as consumers clamour for mortgages and cheap credit. Meanwhile, a study shows many TFSA investors still aren’t clear on their contribution rules. Continue reading »