Bond yields have a “positive correlation” with fixed mortgage rates. That means when bond yields go up, so do fixed-rate mortgages, and vice versa. And since Canadian five-year government bond yields have dropped to 2.9%, as of Tuesday, mortgage rates are expected...
Anxiety over the U.S. economy Despite some signs of cooling, the U.S. economy kept chugging along even with higher rates, outpacing Europe and Asia. Then came last week’s economic reports. Weak reports on manufacturing and construction were followed by the government’s monthly report on...
According to Statistics Canada, store-bought alcoholic beverages rose in price by 5.9% between March 2022 and March 2023, and the price of liquor in general rose another 2.3% from June 2023 to June 2024. Why are these prices going up so fast, and how can you enjoy...
Canada’s best Aeroplan credit cards By Keph Senett on August 2, 2024Estimated reading time: 8 minutes Aeroplan is Canada’s largest airline loyalty program—and one of its most lucrative. Owned by Air Canada, Aeroplan offers a ton of flexibility compared to other airline loyalty programs. You can...
About the Canada Pension Plan (CPP) The Canada Pension Plan is a retirement pension that offers replacement income once a person retires from working life. The CPP is a social insurance plan, and it’s one “pillar” of the retirement income system for Canadians—the...
Mixed results for Magnificent 7 The narrative around the Magnificent 7 mega-cap technology stocks has become mixed, even in the face of mostly positive earnings news. Microsoft stock sold off on Tuesday even after the company narrowly beat Wall Street expectations for its fiscal...
Earlier this year, the HBP got a significant makeover. Here’s what’s new about the HBP, plus how you can use it together with other savings tools: a first home savings account (FHSA), a tax-free savings account (TFSA) and—recently introduced in Canada—EQ Bank’s...
If a trust account is funded by a parent or grandparent, the income attribution rules may apply such that income is taxable back to the parent or grandparent. To be clear, income in this context is considered interest and dividends. Capital gains,...
In July, after several years of prioritizing debt repayment, Cenovus reached its debt reduction target—bringing its total net debt to $4.0 billion. The milestone means Cenovus will no longer be regularly directing a portion of its cash flow towards its balance sheet,...
Are GIC rates going up in Canada? At the start of 2022, GIC rates were just starting to rise but were still less than 3%. The reason they are so much higher now is worth considering. The Consumer Price Index (CPI) rose by...