Canada’s banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), is planning to toughen up borrowing requirements for some mortgage applicants.
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After two years of steadily rising mortgage rates, it appears stability is on the horizon for borrowers.The historic 10-part hiking cycle from the central – which brought the the Prime rate in Canada to 7.2% and variable rates to around 6% – now appears to be in the rearview, as inflation trends in the right direction.
Read articleMortgage rates have ticked down slightly in recent weeks, with optimism of more cuts around the corner – but heating spring home prices have …
Read articleIt’s another battle won amid the Bank of Canada inflation war – the February Consumer Price Index (CPI) report released this morning by Statistics …
Read articleMany Canadian home buyers have put off their property purchases in recent years, due to rising interest rates and scant supply – but it appears …
Read articleDespite steadily rising borrowing costs over the last two years, Canadian mortgage borrowers have been lauded for their ability to keep up with their payments – but new data shows cracks may be starting to form.
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