Government and Regulation

This is where you’ll find the latest on government programs, policies and regulations that impact the mortgage industry.

OSFI’s stress test change sparks industry confusion

November 29, 2024 No Comments

Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most brokers weren’t aware of.

Poilievre asks provinces to scrap sales taxes on new homes

Poilievre asks premiers to axe their sales taxes on new homes worth under $1 million

November 4, 2024 No Comments

Conservative Leader Pierre Poilievre has written to the provinces’ premiers, asking them to eliminate their sales taxes on new homes that are under $1 million.

Poilievre promises to abolish federal sales tax on new homes under $1 million

October 28, 2024 No Comments

A Conservative government would scrap the federal sales tax on new homes sold for less than $1 million and push provinces to do the same, Pierre Poilievre said Monday.

Pros and cons of the new federal secondary suite programs

October 28, 2024 2 Comments

Comparing two federal programs to help Canadians build rental suites: a $40,000 loan or a mortgage refinance option

Mortgage reforms alone won’t solve housing crisis, says Mortgage Professionals Canada CEO

October 24, 2024 1 Comment

Recent mortgage reforms introduced by the federal government, while a step in the right direction, aren’t enough to fully address Canada’s growing housing affordability crisis, according to Lauren van den Berg, CEO of Mortgage Professionals Canada.

Capital gains tax hike could cost 414,000 jobs and slash GDP, economist warns

October 23, 2024 No Comments

Alarming new testimony warns that Canada’s recent increase to the capital gains inclusion rate could lead to the loss of more than 414,000 jobs and a massive $90 billion hit to the country’s economy.

Barriers to homeownership in Canada are “vast,” Butler tells Finance Committee

October 22, 2024 2 Comments

The dream of homeownership is slipping out of reach for many Canadians, particularly young people and those without significant family assistance, according to mortgage expert Ron Butler.

Mortgage industry weighs in on federal secondary suite refinance program

October 16, 2024 1 Comment

Industry professionals express cautious optimism but call for more clarity on the program’s specifics

Mortgage industry braces for FINTRAC’s new AML rules starting October 11

October 10, 2024 No Comments

New FINTRAC regulations set to impact mortgage professionals nationwide.

Government secondary suites refinancing announcement

Feds launch mortgage refinancing program to boost secondary suites and ease housing crunch

October 8, 2024 28 Comments

The federal government is rolling out another set of mortgage changes aimed at addressing the housing shortage, this time focusing on supporting the construction of secondary suites.

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