Homeowners with vacant properties in Toronto take heed: the city's new Vacant Home Tax takes effect this week.
Some in the industry are openly questioning the timing behind OSFI's proposed underwriting changes.
Canada's banking regulator has unveiled three new regulatory proposals that could further restrict mortgage lending pending a just-launched consultation period.
Canada's banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged.
Canada's banking regulator is set to announce the results of its annual review of the mortgage stress test's minimum qualifying rate on Thursday.
This is the second in a two-part series exploring the impact the mortgage stress tests had on borrowers and some additional and unintended risks they have brought about.
In this two-part series, economist Will Dunning explores the premise of the mortgage stress tests and their current relevance in the context of today’s sharply higher interest rates and worsening economic conditions.
Despite today's mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada's banking regulator said no changes to the stress test are imminent.
Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canada's stress test are overdue.
OSFI has announced a slight change to rules surrounding readvanceable mortgages.
