OSFI

Key points: The federal government will allow 30-year amortization periods for insured first-time home buyers purchasing newly-constructed homes, …

Canada’s banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), is planning to toughen up borrowing requirements for some mortgage applicants.

Are 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.

Canada’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.

Updated on November 21, 2024. Update: As of November 21, 2024, both insured and uninsured mortgage borrowers are exempt from the stress test …

Memo 1: New insights behind the Bank of Canada’s latest rate hike The Bank of Canada released its latest Summary of Deliberations on Wednesday, …