OSFI proposes new mortgage restrictions
1/13/2023 | Posted in Mortgage News by Jessi Sandhu
Canada's banking regulator has unveiled three new regulatory proposals that could further restrict mortgage lending pending a just-launched consultation period. ...
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OSFI leaves mortgage stress test unchanged
12/15/2022 | Posted in Home Buyers by Jessi Sandhu
Canada's banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged. ...
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Is a change to the mortgage stress test on the way?
12/5/2022 | Posted in Home Buyers by Jessi Sandhu
With Canada’s banking regulator set to deliver its verdict in mid-December on whether changes to the mortgage stress test are required, a prominent economist at one of the ...
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OSFI has no plans to loosen the stress test
9/14/2022 | Posted in Home Buyers by Jessi Sandhu
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. ...
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Canadian banking regulator insists it will not budge over mortgage rules
9/9/2022 | Posted in Home Buyers by Jessi Sandhu
Renewed calls to re-evaluate the stress test came in the wake of the Bank of Canada's latest outsized rate hike ...
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Over-leveraged homeowners remain vulnerable to lenders
7/5/2022 | Posted in Canadian HELOC by Jessi Sandhu
A much anticipated federal clampdown on a new mortgage product that sinks over-leveraged homeowners deeper into debt has fizzled. ...
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Canadian reverse mortgage debt reaches nearly $4 billion
1/28/2020 | Posted in Financial Health by Jessi Sandhu
Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ...
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Regulator defends mortgage stress test in face of pushback from industry
6/11/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices. ...
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OSFI increases domestic buffer to 2% amid household debt risk
6/6/2019 | Posted in GTA Real Estate by Jessi Sandhu
Canada’s banks will have to set aside a larger share of their capital to protect against downturns in lending and other potential financial risks. ...
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The mortgage 'stress test' has started harming Canadians more than it helps
2/26/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Ten per cent of Canadians no longer qualify for a mortgage with banks. ...
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Regulator OSFI opens door to easing Canadian mortgage rules
2/6/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking regulator defended tougher mortgage underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility that ...
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OSFI stress test has cut millennial purchasing power by $40K
4/30/2018 | Posted in First Time Home Buyers by Jessi Sandhu
The home-purchasing power of ‘peak millennials’ aged 25-31 has diminished by around $40,103 (16.5%) since the introduction of the OSFI stress test at the start of ...
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Millennials to lead the charge in a future surge of home purchases
4/5/2018 | Posted in Home Buyers by Jessi Sandhu
The results of a fresh study conducted by Royal Bank of Canada showed that fully 32% of Canadians are likely to buy a home in the next two years (up by 7% from last ...
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Longer amortizations and higher costs: Our mortgage outlook for 2018
12/25/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
It’s almost a tradition that Canada’s mortgage czars clamp down on housing in the new year, and 2018 is no exception. ...
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Stress test to hit 'move-up' home buyers the hardest
10/20/2017 | Posted in Home Buyers by Jessi Sandhu
The newest set of mortgage restrictions announced by the OSFI will hit home buyers looking to upgrade to new properties the hardest, according to BMO financial group chief ...
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OSFI says stress test, lending rule changes will start Jan 1, 2018 - Industry Reactions
10/18/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
OSFI has published its update for the tightening of mortgage lending regulations known as Guideline B-20 and set the date that it will apply. ...
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Proposed mortgage stress test unnecessary and harmful: Fraser Institute
10/11/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
A new stress test for all uninsured mortgages is unnecessary and could increase costs for homebuyers, a report by the Fraser Institute said Wednesday. ...
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Proposed mortgage rules aim to reduce financial risk in Canada's hot housing markets
7/7/2017 | Posted in Mortgage News by Jessi Sandhu
New rules proposed by the federal government to curb financial risks associated with the country's hot housing markets could make it more difficult to secure a ...
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