mortgage switch Archives - Mortgage Rates & Mortgage Broker News in Canada

EXCLUSIVE: BMO brings back OSFI’s stress test for uninsured mortgage switches

December 19, 2024 No Comments

The excitement over last month’s removal of the stress test for uninsured mortgage switches may have been short-lived—at least for some bank customers.

Housing initiatives take centre stage in Fall Economic Statement amid political turmoil

December 16, 2024 No Comments

It was a dramatic day in Ottawa as Finance Minister Chrystia Freeland resigned from cabinet just hours before she was scheduled to deliver the government’s Fall Economic Statement (FES).

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.

OSFI removes mortgage stress test on switches

OSFI’s stress test on mortgage switches ends: What you need to know

November 20, 2024 1 Comment

Starting tomorrow, certain mortgage borrowers will find it easier to switch lenders, thanks to the removal of the requirement to qualify at a higher stress test rate.

OSFI doubles down on keeping stress test for uninsured mortgage switches

June 13, 2024 1 Comment

The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches.

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.

mortgage switch