Mortgage Bytes

  • 30% of single, never-married women own their own home.  (Source:  Business Edge)
  • The Russian mortgage market has doubled in size every year since 2002 according to this Globe & Mail story.  However, in absolute terms their mortgage market is tiny.  Mortgage debt represents only 1.9% of Russia’s gross domestic product.  In Canada it’s about 43%.
  • DBRS has given PMI Canada, a new Canadian mortgage insurer, an “AA” debt rating.  According to PMI: “We expect our flexible mortgage insurance products…to enable lenders to grow their business by giving them the confidence to offer low downpayment mortgage products to consumers.”
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OSFI stress test announcement
Homebuyers to Face More Stringent Mortgage Stress Test After June 1
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