Your May Money Update

Your May Money Update

Feel like you have less cash this month? You’re not alone – spending tends to heat up during the warm weather days – Canadians are out of hibernation and we’re ready to shop. Between hitting retailers, the open road and the open houses, it can be easy to go over budget as temperatures rise.

Whether you’re a mortgage shopper, or on the hunt for a new credit card, we have several ways you can save this month. Read on for more details.

More Mortgage Rules to Come This Summer

Sorry, homeowner hopefuls – there are a number of restrictions set to hit the mortgage market this June. OSFI, the entity that regulates mortgage lenders and insurers, has introduced new qualification requirements, and has done away with cash back mortgage products for some borrower groups. Will you be affected? Read on to find out.

Read Rubina’s Blog | More Mortgage Rule to Come This Summer

Automatic GIC Renewals: What You Need to Know

Guaranteed Investment Certificates are a great beginner investment: they’re low risk, need little strategy and you’ll always get your principal amount back, with interest on top. GICs require that you lock in for a set term, upon which you’ll receive your cash and earnings – but pay attention to that maturity date, or your funds may stay in lockdown longer than expected.

Read Gordon’s Blog | Automatic GIC Renewals

Visa Checkout and MasterCard MasterPass: How to Use Them

If you’ve ever bailed on an online purchase before the checkout, you’re not alone – many Canadians find the process of online shopping to be arduous. Credit card providers Visa and MasterCard have both developed new ways to breezing through e-commerce sites – but would you use them? Here’s how they work.

Read Allan’s Blog | Visa Checkout and MasterPass

Real Estate Commissions Per Province

When it comes to selling your home, you have to spend money to make money. Land transfer taxes. Lawyer fees. Mortgage discharge costs. But your biggest cost? Likely your real estate agent’s commission. Here’s what you need to know when selling your home with an agent.

Read Jaclyn’s Blog | Real Estate Commissions Per Province

Are You In a Spender / Saver Relationship?

Are you in a spender-saver relationship? A new study finds money opposites are often attracted to one another – which isn’t always harmonious for their bank accounts. Here’s how you can avoid romantic money misunderstandings down the road.

Read Gordon’s Blog | Are You In a Spender / Saver Relationship?


On for a 2nd week!

Would you switched banks if they hiked your account fees?

Tweet your answer to this week’s Q to @RateSupermarket with #RSMWIN!

Related Topics

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

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