11/29/2024 | Posted in Mortgages and Real Estate by Gurmeet Saib
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Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most ... More
11/25/2024 | Posted in Mortgages and Real Estate by Gurmeet Saib
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Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders. ... More
10/3/2024 | Posted in Mortgage News by Gurmeet Saib
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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 Peter ... More
6/13/2024 | Posted in Government and Regulation by Gurmeet Saib
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The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches. ... More
5/22/2024 | Posted in Mortgages and Real Estate by Gurmeet Saib
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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. ... More
4/16/2024 | Posted in Mortgages and Real Estate by Gurmeet Saib
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Canadian regulator cracks down on high-debt mortgages to protect borrowers ... More
3/22/2024 | Posted in Government and Regulation by Gurmeet Saib
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Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders. ... More
12/13/2023 | Posted in Mortgages and Real Estate by Gurmeet Saib
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Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged. ... More
10/12/2023 | Posted in Home Owners by Gurmeet Saib
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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 ... More
9/27/2023 | Posted in Mortgage News by Gurmeet Saib
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Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer ... More
7/26/2023 | Posted in Mortgages and Real Estate by Gurmeet Saib
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The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ... More
1/28/2020 | Posted in Financial Health by Gurmeet Saib
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Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More
6/11/2019 | Posted in Mortgages and Real Estate by Gurmeet Saib
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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. ... More
6/6/2019 | Posted in GTA Real Estate by Gurmeet Saib
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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. ... More
2/26/2019 | Posted in Mortgages and Real Estate by Gurmeet Saib
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Ten per cent of Canadians no longer qualify for a mortgage with banks. ... More
2/6/2019 | Posted in Mortgages and Real Estate by Gurmeet Saib
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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 ... More
4/30/2018 | Posted in First Time Home Buyers by Gurmeet Saib
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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 ... More
4/5/2018 | Posted in Home Buyers by Gurmeet Saib
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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 ... More
12/25/2017 | Posted in Mortgages and Real Estate by Gurmeet Saib
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It’s almost a tradition that Canada’s mortgage czars clamp down on housing in the new year, and 2018 is no exception. ... More
10/20/2017 | Posted in Home Buyers by Gurmeet Saib
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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 ... More
10/18/2017 | Posted in Mortgages and Real Estate by Gurmeet Saib
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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. ... More
10/11/2017 | Posted in Mortgages and Real Estate by Gurmeet Saib
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A new stress test for all uninsured mortgages is unnecessary and could increase costs for homebuyers, a report by the Fraser Institute said Wednesday. ... More
7/7/2017 | Posted in Mortgage News by Gurmeet Saib
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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
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