Ask MoneySense I am retired and, like many seniors, don’t like touching my savings. However, I would like to figure out a decumulation strategy. Can you talk more about how to do this as my husband and I are towards the end of the Boomers. Note we have already taken our CPP so much of … Read more

Many Canadian homeowners whose mortgages come up for renewal by 2026 are facing the prospect of significantly higher monthly payments. With interest rates having risen since the lows of 2020–2021, some households could see their mortgage payments increase by 20% to 40%. But the situation is not uniformly dire. David Larock, a mortgage broker with … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes the week’s top financial headlines and provides practical context for Canadian investors. Macklem signals the possibility of a soft landing For the third consecutive month, the Bank of Canada (BoC) cut its policy interest rate by 25 basis points, … Read more

Inheritance planning is one of those important tasks that often gets postponed—until it becomes urgent. Unlike planning a vacation or catching up on a book, estate planning protects the assets you’ve accumulated and helps prevent unnecessary stress, disputes and financial losses for those you leave behind. The essential guide to inheritance planning Putting off inheritance … Read more

The Bank of Canada’s decision this week to lower its key interest rate provided welcome relief for borrowers with variable-rate mortgages. The cut led major commercial banks to reduce their prime rates, which in turn lowers the interest charged on many variable-rate mortgage products. For homeowners who endured rising costs during the rate-hiking cycle, the … Read more

Alexandre Crupi faces many competing financial demands. At 31, the investment specialist at Steadyhand Investment Funds is planning a September wedding with his fiancée, budgeting for a honeymoon and hoping to buy a house someday. On top of that, he currently lacks a workplace pension. Still, Crupi isn’t ignoring retirement. He’s maximizing contributions to his … Read more

With an average management expense ratio (MER) of about 0.09% and combined assets under management (AUM) approaching $40 billion, many exchange-traded funds provide a low-cost way for Canadian investors to access U.S. equities. Popular examples include the Vanguard S&P 500 Index ETF (VFV), the BMO S&P 500 Index ETF (ZSP) and the iShares Core S&P … Read more

Third time’s a charm. The Bank of Canada (BoC) has cut its benchmark overnight lending rate by another quarter percentage point, following reductions in June and July. The overnight rate now stands at 4.25%, which serves as the foundation for lenders’ prime rates and, in turn, variable mortgage and credit products. Since the BoC began … Read more

The Bank of Canada signalled on Wednesday that it may adjust the pace of interest rate reductions if conditions change, after announcing a third straight quarter-point cut to its policy rate. Governor Tiff Macklem said the decision to reduce the key lending rate to 4.25% reflected continued progress in lowering inflation and the need to … Read more

Mortgage rate comparison tool To compare rate types and terms, click the filter icons in the comparison tool. Why trust us MoneySense is an award-winning magazine that has helped Canadians navigate financial decisions since 1999. Our editorial team of trained journalists works with leading personal finance experts across Canada to compare products from major institutions, … Read more