Department of Finance Archives - Mortgage Rates & Mortgage Broker News in Canada

Government secondary suites refinancing announcement

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

October 8, 2024 17 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.

Federal government releases technical details of its latest mortgage changes

September 24, 2024 2 Comments

As a follow-up to last week’s announcement, the federal government has unveiled a more detailed framework for its updated mortgage rules, which are set to take effect on December 15, 2024.

Latest in mortgage news: Freeland approves RBC takeover of HSBC, with conditions

December 22, 2023 No Comments

RBC’s $13.5-billion acquisition of HSBC’s Canadian unit cleared its final hurdle after receiving approval from Chrystia Freeland, Deputy Prime Minister and Minister of Finance.

Surprise at news about insured mortgage switches

OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches

October 20, 2023 No Comments

Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week.

Minimum Qualifying Rate for Both Mortgage Stress Tests Left at 5.25%

December 17, 2021 No Comments

As part of its annual review of the stress test for uninsured mortgages, the Office of the Superintendent of Financial Institutions today confirmed the minimum

Insured and Uninsured Mortgage Stress Test Changes Confirmed for June 1

May 21, 2021 4 Comments

Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.

Federal Budget Doesn’t Rock the Canadian Housing Boat

April 20, 2021 2 Comments

Homeowners fearing sweeping measures that could have over-corrected the housing market likely breathed a sigh of relief on Monday after hearing the details of the

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