Did Canadian Banks Get Bailouts?

May 10, 2012 by Diane

After the financial meltdown of 2008, things were not 100 percent economically fantastic here in Canada, but it was nothing like in the U.S. Many of us felt pretty smug about it, really. Our unemployment levels weren’t so bad, our housing prices stayed firm and our banks were a model of efficiency and best practices. Or so we thought. Last week, the Canadian Centre for Policy Alternatives revealed that Canadian banks got as much as $114 billion dollars in secret government bailout money.
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Major Changes in Europe Mean NO Changes in Canada

May 10, 2012 by Kelvin Mangaroo

Major Changes in Europe Mean NO Changes in Canada

Increased uncertainty in Europe and the wider global economy will cause Canada to sit back and wait before making any major changes to interest rates that could potentially derail its economic growth. While this waiting game plays out, RateSupermarket.ca’s panel of mortgage experts expect both fixed and variable mortgage rates to remain unchanged in the short term.
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Start Preparing for Higher Interest Rates

April 26, 2012 by Rubina

Start Preparing for Higher Interest Rates

The Bank of Canada is hinting a hike in the overnight lending rate is coming soon. This move will affect the payments on variable mortgages, lines of credit or any debt connected to the floating rate. If you’re worried about your ability to service debt in a higher interest rate environment, there are plenty of steps you can take right now to prepare.
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Friday Mortgage Round Up: April 20th, 2012

April 19, 2012 by Laura

Friday Mortgage Round Up: April 20th, 2012

You might be wondering what a cash back mortgage is – it is exactly what it sounds like. When your mortgage funds you receive a set percentage back in cash to go towards, well whatever you want! Some will turn around and use a 5 per cent cash back amount as their down payment, a sly move around the minimum down payment required to qualify for a mortgage in Canada. The pro with this type of mortgage is that you can do whatever you want with the cash back!
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Bank of Canada Maintains Overnight Rate Target at One Per Cent

April 17, 2012 by Laura

Bank of Canada Maintains Overnight Rate Target at One Per Cent

Today the Bank of Canada announced that once again (for the 13th consecutive time over the past 19 months) that there will be no change to the overnight lending rate. This pleases variable rate mortgage holders since there are no alterations to the bank’s Prime lending rate and therefore no increase to their own mortgage rate and monthly mortgage payments.
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