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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Tips for Renewing Your Mortgage in 2024


Renewing your mortgage can be a daunting task, but it doesn’t have to be. With the right preparation and knowledge, you can make the process as smooth as possible. Here are some tips to help you renew your mortgage in 2024.

1: Start early. Don’t wait until the last minute to start thinking about renewing your mortgage. Start researching your options at least six months before your current mortgage term expires.

2: Shop around. Don’t just accept the first mortgage offer you receive. Shop around and compare rates from different lenders to find the best deal.

3: Consider a shorter term. If you can afford higher payments, consider a shorter mortgage term. This can help you save money on interest in the long run.

4: Negotiate. Don’t be afraid to negotiate with your lender. You may be able to get a better rate or more favorable terms if you ask.

Renewing your mortgage can be a great opportunity to save money and improve your financial situation. By following these tips, you can make the process as smooth as possible.


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