Category Archives: Mortgage News & Events

New Mortgage Changes – Are you financially ready?

The New Mortgage Changes Decoded The OSFI (Office of the Superintendent of Financial Institutions) announced that effective January 1, 2018 the new Residential Mortgage Underwriting Practices and Procedures (Guidelines B-20) will be applied to all Federally Regulated Lenders. The changes to the guidelines are focused on: The minimum qualifying rate for uninsured mortgages Expectations around…
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New Mortgage Rules – Talk with a Mortgage Broker

Buy now to beat the new mortgage rules Starting January 1, 2018, it’s going to get tougher to qualify for a mortgage. The Canadian banking regulator has a new rule: After January, all new mortgages will have to undergo a financial ‘stress test.’ Read on to find out what’s coming, and how if you buy…
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Concerns about the rules and mortgage rates

Mortgage brokers, home buyers concerned about new ‘stress test’ rules New guidelines that will soon place restrictions on uninsured borrowers looking to secure a mortgage have – as one Ottawa realtor puts it kicked the pursuit of a home into “overdrive.” Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released guidelines…
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Stress Testing Vancouver – New Mortgage Rules

Stress Testing Vancouver Real Estate Under OSFI’s New B-20 Guidelines The Office of the Superintendent of Financial Institutions (OSFI) has published guidelines around regulations of mortgage lending. These changes will come into effect on January 1, 2018. OSFI Stress Testing Conventional Mortgages A conventional mortgage is one with a down payment higher than 20%. Basically,…
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