Effective November 21, 2024, mortgage lenders will no longer require borrowers to pass the Office of the Superintendent of Financial Institutions (OSFI) stress […]
Effective April 6, 2020, the federal government will change the stress test rate for insured mortgages. The change will loosen the barrier to […]
According to the Canadian Mortgage and Housing Corp (CMHC), tighter mortgage regulations are making Canada’s housing market less risky. Default rates remain low, […]
The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it […]
Alternative lenders are thriving in the wake of the mortgage stress test so much so that, in early January, news reports claimed that […]
As of May 1, 2018, pre-approvals performed prior to January 1, 2018, have expired. This means the first wave of buyers facing OSFI’s […]
We all know by now that under the new mortgage rules at the beginning of 2018, homebuyers who don’t require mortgage insurance — those with a down […]
In Q4 of 2017, we stressed the impact of what some might say was the most ground shaking mortgage rule change Canada has […]
How will Canada’s Top Lender manage in-flight applications? Changes to existing policies and procedures may impact applications initiated before or after January 1, […]
Today, October 17, 2017, the Office of the Superintendent of Financial Institutions (OSFI) released revised guidelines for the mortgage industry. Canada’s top banking regulator […]