Are You Making the Right Money Moves?

RU-October-24-2014

Shopping for your personal finance products is often anything but straightforward – with so many options and opinions available, it can be tough to make the right decision for your hard-earned money. This week, we’ve targeted two of the most confusing money moves – understanding your mortgage, and choosing the perfect credit card.

 Check out the full story below, and be sure to scroll down for this week’s housing market and economic updates.

In Credit Cards: The Top 5 MasterCards in Canada

On the hunt for a new MasterCard? There are many options available, offered by Canada’s biggest lenders… but a few stand out from the rest. Read on for our top 5 picks, and see what you could earn and save with one of the best MasterCards on the market.

Read Penelope’s Blog | The Top 5 MasterCards in Canada

In Mortgages: What is a Collateral Mortgage?

You might have a collateral mortgage and not even know it – many Canadians do, according to a recent Ministry of Finance initiative, which has tasked lenders with providing greater transparency. Even worse – collateral mortgages can limit a homeowner’s options at renewal time, removing the ability to switch for a better rate.

Here’s what you need to know about the pros and cons of collateral mortgages, and whether you should have one.

Read Allan’s Blog: What is a Collateral Mortgage?

In Economic News: Leave Rates Alone… For Now

Interest rates in Canada should stay put until at least next year, according to one of Canada’s most respected think tanks. A new report from the C.D. Howe Institute finds the Bank of Canada should leave rates untouched until 2015, followed by a 0.5 per cent increase next fall, in order to let the economy truly recover. What will this mean for your mortgage, savings and investments? Read on to find out.

Read Rubina’s Blog: Leave Rates Alone… For Now

In Credit Cards: Fans Score With MasterCard Hockey Partnership

A new MasterCard Hockey Partnership means fans can expect ice-level perks and giveaways. Read on to learn more about what’s in store for cardholders.

Read Andrew’s Blog | Fans Score with MasterCard Hockey Partnership

In Mortgages: Canadian Mortgage Debt $11 Billion Less Than Thought

A recent CIBC study suggests Canadian mortgage debt isn’t as dire as the Bank of Canada claims – in fact, consumers may be paying their mortgages off faster to the tune of $11 billion nationally. But do these numbers really paint an accurate picture of consumer debt in Canada? Read on for the full story.

Read Sean’s Blog | Canadian Mortgage Debt $11 Billion Less Than Thought

In Mortgages: Housing Market Update: Royal LePage Q3 2014

Royal LePage Q3 2014 Housing Market Update: How have home prices changed in Canada’s cities? Read on for our full breakdown of the housing market.

Read Sean’s Blog | Royal LePage Q3 2014

#RSMWIN

This week, we asked our Twitter followers:

Will you rely on credit to afford the holiday season?

77%: NO
23: YES

Looks like our followers have a strategy in place to make the holidays affordable. Need to make a festive finance plan of your own? Check out our top Holiday Savings Tips>

Want your chance to win?  
Tweet your answer to this week’s question to @RateSupermarket with #RSMWIN to enter for a $25 gift card!

November is financial literacy month! What is one financial change you’d like to make?

Related Topics

Credit Card News / Credit Cards / Economic News / Mortgage News / Mortgages

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