GICs present very little risk and often have higher interest rates than savings accounts. The downside of a GIC is that you usually have to keep your money locked in for a set period of time ( from three months to as long as 10 years). It’s best not to go with a GIC unless you...
Canada’s income tax rates are divided into different levels, often referred to as “brackets.” The federal income tax bracket you belong to depends on how much you earned during the year. Provinces and territories have their own tax brackets, which also depend on your income. What are ...
For example, when interest rates rise, the market expects higher returns on their bond investments. This pushes the prices of bonds down, while its yield to maturity (coupon interest plus capital gain upon maturity) rises. If a bond is trading below its par value, it’s called a discount ...
If the answer is “lower rates” and little else, you may want to keep looking. Taking the time to meet your potential mortgage broker will also give you an idea of how informed they are and how they might treat you if you work together. Mortgage brokers vs. advisors, specialists and ...
Interac e-transfers (which are a form of e-transfer) can be used to send money to anyone in Canada. They are more common than wire transfers when sending money domestically because of their convenience (you only need a person’s email address or mobile number). Depending on the type of ...
This leaves you at the mercy of the prevailing cryptocurrency exchange rates, which can be quite volatile. Tax considerations. Any transactions involving digital currency are taxable by the Canada Revenue Agency. When cardholders exchange crypto for dollars, or another crypto coin, there may be tax...
Since borrowers who cannot qualify with A lenders are, at least statistically, deemed to be a higher risk, the subprime mortgages offered by B lenders often come with significantly higher interest rates and may involve unique fees or closing costs. Qualifying for a subprime mortgage While subprime...