OSFI doubles down on keeping stress test for uninsured mortgage switches
6/13/2024 | Posted in Government and Regulation by Jessi Sandhu
The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches. ...
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Bank Regulator in Canada Warns of Housing-Payment Shock by 2026
5/22/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans renew. ...
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OSFI announces new stress test for uninsured mortgages
4/16/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian regulator cracks down on high-debt mortgages to protect borrowers ...
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OSFI rejects Competition Bureau recommendation to drop mortgage stress test for lender switches
3/22/2024 | Posted in Government and Regulation by Jessi Sandhu
Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders. ...
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Latest in Mortgage News: OSFI leaves stress test rate unchanged
12/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged. ...
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OSFI seeing a deterioration in credit quality, says borrowers to face challenges at renewal
10/12/2023 | Posted in Home Owners by Jessi Sandhu
Canada’s banking regulator says the sustained increases in interest rates over the past 18 months have challenged some borrowers’ ability to pay and led to a ...
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Banking regulator working with lenders to stamp out ultra-long mortgages
9/27/2023 | Posted in Mortgage News by Jessi Sandhu
Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer ...
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What impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ...
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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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