Housing affordability the top reason 32% of Ontarians plan to move in the next year: survey

Everything you need to know about reverse mortgages

For older Canadian homeowners, a reverse mortgage can be the perfect way to generate tax-free funds without sacrificing quality of life. You stay in your home, don’t need much income or perfect credit, and don’t have to make payments.

LowestRates.ca Staff

July 21, 2022

For older Canadian homeowners, a reverse mortgage can be the perfect way to generate tax-free funds without sacrificing quality of life. You stay in your home. You don’t need much income or perfect credit. And you don’t have to make loan payments, ever. We know those terms sound almost too good to be true, but a reverse mortgage is simply a quick, practical way to withdraw some cash value from your home before you sell it. Here’s how it works.

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The LowestRates.ca writing team focuses on telling original stories and bringing you the latest news in the world of personal finance.

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Does my roof affect my home insurance rate in Canada?

Putting a roof over your head is a basic necessity of life. But the type of roof you choose may impact your wallet for many years to come, including your home insurance premium.

Joel Kranc

July 12, 2022

5-minute read

This article has been updated from a previous version.

Putting a roof over your head is a basic necessity of life. But the type of roof you choose may impact your wallet for many years to come.

About the author

Joel Kranc is an award-winning writer, author and journalist. Most of his experience lies within the institutional investment and financial services space. He also covers a variety of business topics for publications in North America and the UK.

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Do you need travel insurance to cross the U.S. border?

Though Canada and the U.S. are neighbouring countries, your full provincial health insurance doesn’t extend beyond the international border. Travel insurance can offer inclusive healthcare coverage while abroad.

Gary Parkinson

July 7, 2022

3-minute read

This article has been updated from a previous version.

About the author

Gary Parkinson is an online writer currently residing in Toronto. He uses content marketing and SEO strategies to help improve the reputations of websites with webmasters. Gary graduated Conestoga College from the business administration-marketing program.

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3 things that affect your reverse mortgage rate in Canada

12 home insurance discounts that can help you save money

Before you settle on an insurance provider, it’s in your best interest to shop around and compare home insurance quotes. But there are also ways to save money once you have a home insurance policy: discounts.

Lisa Coxon

June 23, 2022

6-minute read

About the author

Lisa is a senior editor in the personal finance space. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies.

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What kind of travel insurance should you get when taking a vacation?

There are many travel insurance options to protect yourself, your stuff, and your itinerary. But how much coverage is necessary? Here is a guide to selecting a travel insurance policy for your trip.

Sinead Mulhern

June 15, 2022

6-minute read

This article has been updated from a previous version.

As COVID-19 travel restrictions and safety measures ease around the globe, many people look forward to trips across the border or vacations abroad. As you take stock of your shorts, swimsuits, sun lotions and other must-pack items, don’t forget this crucial detail:  travel insurance.

About the author

Sinead Mulhern is a Canadian journalist who writes about health, fitness, travel and personal finance. A former Torontonian, she is now based in Medellin, Colombia where she freelances for Canadian publications while travelling.

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With interest rates rising, how might the mortgage stress test need to change?

Although high mortgage rates may deter people, the stress test is still important to protect buyers from future rate hikes.

REPORT: Kilometres on used vehicle listings rising amid global vehicle shortage

Key findings:

Pre-owned vehicles in the below $5,000 category saw a 40% increase in their odometers on average when comparing listings from Q1 2020 to Q1 2022.

What you need to know about using your travel medical insurance

Let's hope you never have to rely on travel medical insurance, but there's a lot at stake if you don't know how to use it properly. Here's everything you need to know before taking your next trip.

Sinead Mulhern

June 3, 2022

7-minute read

This article has been updated from a previous version.

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