OSFI
OSFI’s stress test on mortgage switches ends today: What you need to know
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.
Mortgage rate war to intensify as lenders compete for renewal business, analyst says
Former Scotiabank Mortgage head John Webster weighed in, noting that the big banks’ competitive pricing is unsustainable and unlikely to continue for long.
Mortgage Digest: Why have lenders been hiking rates?
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.
Public perceptions of banking regulator influenced mortgage decision: OSFI head
The recent decision by Canada’s banking regulator to relax a mortgage stress test rule was shaped in part by concerns about public perception of the agency, said Office of the Superintendent of Financial Institutions head Peter Routledge.
OSFI to eliminate stress test for uninsured mortgage switches starting November 21
OSFI has confirmed that it will remove the requirement for lenders to apply the Minimum Qualifying Rate (MQR) to straight switches of uninsured mortgages.
Mortgage Digest: 84% of young Canadians prioritize homeownership despite affordability challenges
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases.
Mortgage Digest: First-time buyers relying on gifted down payments more than ever
Mortgage down payment gifts from family members remain a crucial factor for first-time homebuyers in Canada, even as the housing market cools and economic conditions tighten.
OSFI delays capital floor increase for banks amid competitive imbalance concerns
OSFI is pushing back implementation of a rule change that could have significant implications for Canadian lenders
The latest mortgage news: Variable-rate mortgages are making a comeback
Mortgage borrowers are increasingly opting for variable-rate mortgages, a trend that is expected to continue as the Bank of Canada continues to lower interest rates.