If you’ve ever signed a contract – for a cell phone, cable package or a bank account – you’ve likely noticed the wording “terms may be subject to change”. They don’t just put that in there for the heck of it – it’s up to you as a consumer to ensure you’re still getting the best service for your buck.
This week, we look at the factors that could be affecting your bank rates – from the Bank of Canada’s latest announcement, to the fine print on your contracts. Read on for the full story.
Bank of Canada Rate Announcement: Will Rates Rise This Year?
The Bank of Canada left its key interest rate untouched in this week’s announcement – but can we expect change to the cost of borrowing this year? The jury is out whether rates will rise or fall by 2016. Read on for our breakdown.
Read Allan’s Blog | Will Rates Rise This Year?>
What Happened To My Student Bank Rates?
Student bank accounts are a great way for young adults to manage their finances without pesky fees – but new grads can be in for a rude awakening if they don’t pay attention to when their accounts expire. Don’t be caught by surprise – here’s what you should know.
Read Derek’s Blog | What Happened To My Student Bank Rates?>
RBC Reverses New Bank Fees
Behold the power of consumer backlash: Royal Bank of Canada, the nation’s largest lender, has announced it is reversing some of the new fee changes it planned to introduce on June 1. Most notably, the bank will not be charging customers “pay to pay” fees on their mortgage, credit card and savings contribution payments. Get the full story.
Read Penelope’s Blog | RBC Reverses New Bank Fees
Should The Bank of Canada Inflation Target Be Changed?
The Bank of Canada inflation target is an important way to measure our economy’s health – but there’s recent talk of changing the target altogether. Does this spell bad news for the economy? Read on to find out.
Read Sean’s Blog | Should The Bank of Canada Inflation Target Be Changed?
Will Rising Global Bond Yields Mean Higher Mortgage Rates?
Why are global bond yields rising – and will fixed mortgage rates spike as a result? Investors around the globe are selling off their bonds for a number of reasons. Read on to find out why – and how your cost of borrowing may be affected.
Read Rubina’s Blog | Will Rising Global Bond Yields Mean Higher Mortgage Rates?
This week, we asked our Twitter followers:
What’s your favourite type of credit card rewards? Cash back, travel, gas, or specialty retailer?
55%: Cash Back
25%: Air Miles
11%: Specialty Rewards
Do you think a lower Canadian dollar is better or worse for the economy?