The Bank of Canada held its key rate at 2.25% in December 2025, after four consecutive cuts brought it down from the 5% peak. But here’s where it gets interesting: the big six banks can’t agree on what happens next. Two expect rate hikes in 2026, one expects further cuts, and three expect Governor Tiff Macklem to hold steady. After
Staying with the same bank for your mortgage could cost you roughly $1,860 a year — that’s what Ratehub’s latest comparison found when they lined up the average Big Five five-year fixed rate (4.49%) against the lowest available market rate (4.04%). On a national average home price of $672,784, the difference works out to $155 a month, or $9,300 over
The moment you file an insurance claim, your premiums can shift for years. In Canada, an at-fault accident typically pushes car insurance rates up by 15% to 40%, and the way you handle that first interaction with your insurer often determines how much you end up covering yourself. Here’s what you actually need to know. Disclosure: Some links on this
Most Canadian renters pay between $1,500 and $2,500 a month for housing, and the vast majority never see that payment show up on their credit file. The system that tracks your borrowing history was built around mortgages, credit cards, and car loans — rent was never part of the conversation. That’s changing, but not evenly, and not in ways most
Nearly nine in ten Canadian households hold at least one insurance policy, and for most of them, the cost of that coverage went up in 2022. Property and casualty premiums rose 9.2% that year, while property claims cost inflation hit 8.5%. When the bill keeps climbing, the way you pay starts to matter. Here’s what you actually need to know.
Ontario’s auto insurance system is set for its biggest shake-up in years. Starting July 1, 2026, the province moves to an à la carte model where only medical, rehabilitation, and attendant care benefits stay mandatory. Everything else — lost wages, caregiver expenses, housekeeping help — becomes optional, with each insurer setting its own price for every add-on. Here’s what you
Canadians who pay monthly bank fees are sending somewhere between $120 and $200 a year to their financial institution for services that dozens of competitors now offer for free. That figure climbs faster than most people notice — a $16.95 monthly fee, what RBC charges after the first year on its Advantage Banking account, adds up to $203.40 annually. Here’s
The number of Canadian parents opening separate savings accounts for their children has climbed steadily, and it’s not hard to see why. Government incentives tied to the traditional RESP have shifted, tuition costs keep rising faster than many portfolios can keep up, and more families want flexibility that a single registered account doesn’t always offer. Here’s what you actually need
Going through a divorce in Canada reshapes more than just where you live. Contested divorce litigation can run from $50,000 to over $200,000, and that’s before you factor in what it costs to get the tax treatment wrong. The family home, the RRSPs, the pension credits you both built up, even the Canada Child Benefit you’ve been receiving — every
Living in Ontario means paying roughly two and a half times more for car insurance than living in Prince Edward Island — not because of what you drive, but because of where you park it. The gap between Canada’s cheapest and most expensive provincial auto insurance markets now sits at over $1,200 per year, and the forces behind it have
Canadian investors paid an average of 1.98% annually on equity mutual funds last year — nearly four times the global average of 0.50%. That gap alone explains a lot about why more people are moving away from stock picking and toward low-cost index funds. Here’s what you actually need to know. Disclosure: Some links on this page are affiliate links.
Most Canadians assume building credit means eventually carrying a balance. That assumption costs people thousands in interest every year. With the average credit card interest rate at 20.99% in 2026, according to Credit Canada, carrying even a modest balance turns a convenience into a long-term drain. And yet the entire system seems designed to push you toward debt — approval
