Back-to-school season is upon us, and families everywhere are likely feeling the post-shopping pinch. Some good news then, for those who’ve racked up the credit card or taken out a student loan – borrowing costs in Canada won’t be going anywhere in the short term, according to this week’s Bank of Canada announcement.
Get the full story – along with our forecast for this month’s mortgage rates – below, along with the week’s top headlines.
September Mortgage Rates Get a D for Discount
Applying for a mortgage this month? You’re in luck – RateSupermarket.ca’s expert Mortgage Rate Outlook Panel calls for summer’s steep discounts to continue through September. Read on for their full forecast for fixed and variable mortgage rates.
Read Penelope’s Blog | September Mortgage Rates Get a D for Discount
Bank of Canada September 2014 Rate Announcement: No Change… Again
The Bank of Canada released their latest rate announcement this week and – shocker – made no change to the trendsetting Overnight Lending Rate. However, the report is full of important tidbits and hints at what’s to come for Canada’s economy – read on for our full breakdown.
Read Andrew’s Blog | Bank of Canada September 2014 Rate Announcement
How I Spend Only $100 a Month on Groceries
Frugal living extraordinaire Sean Cooper is well on his way to being mortgage-free by 31 – but did you know he also spends only $100 on groceries? Read on to see how he maintains his rock-bottom food costs.
Read Sean’s Blog | How I Spend Only $100 a Month on Groceries
5 Renovations that Could Hurt Your Home’s Resale Value
As Canadian housing prices continue their rising trend, it’s no surprise that homeowners want the most out of their investment. And, while house flipping shows make value-adding renos seem a breeze, such projects aren’t always necessary – and some can even hurt the value of your home. Here, our friends from The Housing Block share tips on whether you really need those renos.
Read The Housing Block’s Blog: 5 Renovations That Could Hurt Your Home’s Resale Value
Why Burger King’s Tax Inversion is Good for Canada
Let’s call it a Whopper of a deal: the latest corporate buzz surrounds Burger King’s recent $11-billion acquisition of beloved Canadian brand Tim Horton’s. This new merger makes it the third largest fast food chain in the world behind Subway and McDonald’s. The combined company, owned by Brazilian private-equity firm 3G Capital Inc. with a 70 per cent majority, will be headquartered in Oakville, Ontario. The move is causing controversy on both sides of the border – but Canada has much to gain from the deal.
Read Rubina’s Blog: Why Burger King’s Tax Inversion is Good for Canada
This Week’s #RSMWIN!
On for a 2nd week!
Do you think you have enough life insurance?
MoneyWise Cash Grab
Feeling lucky? Check this section each week to see what giveaways and prizes we have in store! Right now, we’re giving away over $1,500 in prize money – check the details below!
Nominate a Student for a $1,000 Scholarship from RateSupermarket.ca!
Education is expensive – and we want to help one lucky student out with their tuition! Know of a deserving scholar – enter today to nominate them for a $1,000 gift towards their school costs. Enter now>
How Do YOU Shop For a Mortgage? Take our Survey and WIN $500!
Who do you turn to for mortgage advice? Some Canadians seek out online resources, while others prefer the more traditional approach of working with their bank. What’s your take? Tell us, and you’ll be entered to WIN $500! Enter now>