10/3/2024 | Posted in Mortgage News by Eileen Farrow
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Canada’s banking regulator recently relaxed its mortgage stress test rule partly due to concerns about how the public perceives the agency’s role, according to ... More

OSFI eliminated mortgage stress test to avoid losing public confidence: Routledge

  11/29/2023 | Posted in Mortgage News by Eileen Farrow
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The Liberal government last week unveiled a “new” Canadian Mortgage Charter aimed at ensuring lenders offer relief to mortgage borrowers who are struggling to make ... More

Brokers react to the government's

  10/20/2023 | Posted in Mortgage News by Eileen Farrow
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Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week.

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OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches

  10/18/2023 | Posted in Mortgage News by Eileen Farrow
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Canada’s banking regulator has revealed its decision on initial public consultation regarding its B-20 guidelines, indicating in a statement yesterday that it will not ... More

OSFI reaches decision on proposed mortgage guideline changes

  9/27/2023 | Posted in Mortgage News by Eileen Farrow
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Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer

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Banking regulator working with lenders to stamp out ultra-long mortgages

  3/18/2020 | Posted in Mortgage News by Eileen Farrow
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Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers.

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Big Six banks to allow 6-month mortgage payment deferral

  9/16/2019 | Posted in Mortgage News by Eileen Farrow
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Reverse mortgages are surging in Canada as more older people join the country’s debt bandwagon.

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Reverse mortgages are booming in Canada

  9/12/2017 | Posted in Mortgage News by Eileen Farrow
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The number of Canadians who applied for a fixed-rate mortgage in August saw a substantial spike, with 59.31% of users on the LowestRates.ca website opting for a fixed-rate ... More

Consumers Rush to Lock in Mortgage Rates ahead of Bank of Canada Rate Hikes

  8/9/2017 | Posted in Mortgage News by Eileen Farrow
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The number of new mortgages continued higher in 2016 but the share of first-time buyers slipped, CMHC says. The crown corporation reports that there were just over 1 ... More

Refinancing is driver of new loans growth: CMHC

  7/7/2017 | Posted in Mortgage News by Eileen Farrow
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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 ... More

Proposed mortgage rules aim to reduce financial risk in Canada's hot housing markets

  6/15/2017 | Posted in Mortgage News by Eileen Farrow
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Canada's central bank, which had long said interest rates are too blunt a tool to tackle the country's housing market, may have finally decided to act and at least ... More

Canada's central bank acts to defuse housing market threat

  4/28/2017 | Posted in Mortgage News by Eileen Farrow
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The Ontario government will shift regulation of syndicated mortgage investment products to the Ontario Securities Commission in a move to toughen oversight of a rapidly growing ... More

Ontario moves to toughen oversight of syndicated mortgage investments

  2/17/2017 | Posted in Mortgage News by Eileen Farrow
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The Canadian lending market will enter a period of relative cooling in the next few years as far-reaching changes to mortgage rules finally begin to make themselves felt, ... More

Lending market to slow down noticeably in the next few years: CIBC

  12/7/2016 | Posted in Mortgage News by Eileen Farrow
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The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations.

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Bank of Canada maintains overnight rate target at 1/2 per cent

  11/17/2016 | Posted in Mortgage News by Eileen Farrow
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Canada Mortgage and Housing Corp. says its stress testing shows it will be able to withstand even the most extreme economic scenarios.

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CMHC passes stress test extreme scenarios

  11/14/2016 | Posted in Mortgage News by Eileen Farrow
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Homeowners could be facing mortgage insurance price increases next year according to the boss of Canada’s largest private mortgage insurer.

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Mortgage insurance premiums set to rise

  10/11/2016 | Posted in Mortgage News by Eileen Farrow
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The new mortgage rules being introduced by Ottawa next week are already having a “crippling” impact on non-bank mortgage lenders according to online broker Butler ... More

Non-banks

  10/7/2016 | Posted in Mortgage News by Eileen Farrow
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The dynamism of the Canadian mortgage market itself might be at risk due to the tighter regulations announced by Finance Minister Bill Morneau earlier this week, an observer ... More

New rules will cool down mortgage market, not home prices

  10/7/2016 | Posted in Mortgage News by Eileen Farrow
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Fully one-third of consumers would encounter difficulties in meeting the new debt service ratios as outlined by the tightened mortgage measures introduced by Finance Minister ... More

Genworth: One-third of mortgage consumers at risk due to new measures

  9/27/2016 | Posted in Mortgage News by Eileen Farrow
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Two major Canadian banks have closed a loophole that allowed new Canadians here for less than five years to bypass income verification when purchasing a home.

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Getting a mortgage at two major Canadian banks just got harder for some new Canadians

  9/14/2016 | Posted in Mortgage News by Eileen Farrow
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Up to a million Canadians would struggle to cope with a 1 per cent rise in interest rates with 700,000 at risk from even a 0.25 per cent rise.

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1 million Canadians would struggle with interest rate rise: TransUnion

  9/12/2016 | Posted in Mortgage News by Eileen Farrow
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Canada’s financial regulator released proposed new mortgage rules that could see the country’s lenders hold more capital to offset risks.

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Canada regulator sets out stricter mortgage rules for banks

  8/16/2016 | Posted in Mortgage News by Eileen Farrow
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The federal government may require banks and other mortgage lenders to pay a deductible to protect taxpayers from risky hot housing markets.

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Ottawa reconsiders 'risk sharing' by mortgage lenders

  7/13/2016 | Posted in Mortgage News by Eileen Farrow
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he Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the ... More

Bank of Canada maintains overnight rate target at 1/2 per cent

  6/28/2016 | Posted in Mortgage News by Eileen Farrow
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Rising house prices are increasing demand for mortgages with 30 year amortizations as buyers choose – or are forced by the cost – to spread their home loan over ... More

30 years becoming norm for paying down mortgage

  3/16/2016 | Posted in Mortgage News by Eileen Farrow
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Mortgage lenders may have to pay a deductible to the CMHC for any claims made on loans the agency insures.

... More

CMHC considers deductible for mortgage claims

  11/6/2015 | Posted in Mortgage News by Eileen Farrow
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New figures from one of Canada’s largest banks and mortgage lenders shows the continuing growth of household debt. RBC’s report reveals that total consumer debt is ... More

Canada's consumers owe $1.8 trillion as mortgages soar

  11/2/2015 | Posted in Mortgage News by Eileen Farrow
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The Royal Bank of Canada scrapped an internal limit on mortgage loan size for immigrants in the spring to tap into surging demand for financing on multi-million dollar houses ... More

Royal Bank of Canada scraps limit on size of newcomer mortgages

  9/17/2015 | Posted in Mortgage News by Eileen Farrow
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Canadian households are adding debt at an increasing pace and it’s being driven by mortgage which account for 80 per cent of the debt. CIBC says that it is not housing ... More

Mortgage borrowing drives escalating Canadian debt: CIBC
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