tighter lending environment?

(January 25, 2018, posted in Mortgage misc)


On January 17, 2018, the Bank of Canada (BOC) raised its overnight interest rate 25 basis points to 1.25 per cent citing the growing economy and rising inflationary trends.

In anticipation of this increase, the six major banks raised their posted five-year, fixed-rate mortgage rates to 5.14 per cent from 4.99 per cent.

How will this affect mortgage holders?

All home buyers, even those who don’t requi... read more.

Decoding upcoming mortgage policy changes

(December 26, 2017, posted in Mortgage misc)

January must be right around the corner because, once again, Canadians are facing a momentous change in mortgage policy.

It's almost a tradition that Canada's mortgage czars clamp down on housing in the new year. This year is no exception with the federal Office of the Superintendent of Financial Institutions (OSFI) enacting the big kahuna of credit regulation, the uninsured mortgage "stress test... read more.

new mortgage stress test

(October 18, 2017, posted in Mortgage misc)

Effective January 1, 2018, home buyers who don’t require mortgage insurance — those with a down payment of 20 per cent or more — must qualify for their mortgage at a higher rate.

This new stress test won’t apply to people renewing their uninsured mortgage.

Canada’s Office of the Superintendent of Financial Institutions (OSFI) announced these rule changes October 17, 2017. 

Under the new rules, the mi... read more.

robo-mortgage advisers?

(August 14, 2017, posted in Mortgage misc)

Robert McLister, BBA, is the founder of mortgage rate comparison website, Editor of Canadian Mortgage Trends and a mortgage planner at Robert analyzes mortgage rates and writes about a range of issues impacting mortgage consumers and today, in the Globe and Mail wrote the following.....

The leaders of the mortgage industry will soon be those at the top of the Google... read more.

changes to mortgage insurance rules & income tax proposals

(October 03, 2016, posted in Mortgage misc)

The Federal Government just announced today significant changes to regulations for new-government backed insured mortgages today. 

Effective October 17, 2016, all insured home buyers will have to qualify at the posted 5-year qualifying rate. This is a change from previous policy where only variable rate mortgages and mortgages with terms less than 5-years were subject to a higher qualifying rate.

Wit... read more.