Six Canadian banks have received warning for possible Moody’s Ratings cuts. What is the purpose of this rating system, and how will a cut affect investors and the Canadian economy?
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.
This week’s Friday Mortgage Roundup explores the impact of Scotiabank’s ING DIRECT acquisition and breaks down recent CAAMP updates.
Scotiabank has purchased ING Bank of Canada, the largest online bank in the nation, in a deal totaling $3.126 billion. The sale, expected to close by December, is anticipated to result in a net investment for Scotia of $1.9 billion, and retail deposits of over $30 billion to the bank’s balance sheet.