Thinking of switching lenders when renewing your mortgage? The good news is you’ll no longer be stress tested when doing so – even if you’re …
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Key points: The federal government will allow 30-year amortization periods for insured first-time home buyers purchasing newly-constructed homes, …
Read articleCanada’s banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), is planning to toughen up borrowing requirements for some mortgage applicants.
Read articleAre we officially out of the rate-hike era? It would appear so, following a rate hold this week from the US Federal Reserve, right on the heels of the Bank of Canada’s decision to do so.
Read articleCanada’s banking regulator has not been shy in the past about voicing its concern over variable-rate mortgages with fixed payments, a mortgage product where a borrowers’ payment remains the same, even as the Bank of Canada increases its benchmark rate.
Read articleUpdated on June 3, 2024. Canada’s mortgage stress test ( the threshold interest rate that borrowers must prove they can qualify at in order to …
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