RBC has announced it is hiking rates for fixed and variable mortgages, to go into effect this Friday. How will consumers be impacted? And why are rates rising now, when they should be technically lower?
Finance lessons for kids that will promote financial literacy in your home, for all ages.
Royal Bank of Canada announced today that it is further expanding into the auto financing sector through the acquisition of Ally Bank’s car financing business division.
A recent poll finds that Canadians are lowering their personal debt through less spending – but they continue to be anxious about their remaining debt levels.
A new Bank of Canada study finds mortgage customers who fail to compare their mortgage rate options end up paying far more than those who do – between $759 to $1,617, to be exact.
The CMHC had added their predictions to the cooling housing market pile – and they’re fortunately less extreme than past calls of a 10 per cent drop. While they’re forecasting a slowdown in pricing, new construction and existing home sale figures, Canada’s housing market is still sitting pretty compared to the U.S., where 4 million homeowners are now underwater on their mortgages.
Recent finance headlines are full of news on the Barclays Libor scandal. For those not familiar with the global interbank lending interest rate, the news puts into question the validity of trillions of dollars in loans granted between 2006 and 2008. Will Canadian finances be affected? If their bank used this benchmark rate to trade with international financial institutions during this time period, they very well could be.