Canada

Mortgage Changes May Accelerate Canadian Property Bubble, Not Helpful: Big Six Banks

Canadian banks have begun to weigh in on new mortgage changes, and they aren’t optimistic. Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced a revision to the uninsured mortgage stress test. The change will shrink supersized mortgage budgets, reducing the number of over-leveraged borrowers. Two of Canada’s largest banks say it’s […]

Canada

Canadian Bank Regulator Readies To Reverse Extra Pandemic Mortgage Leverage

Canadian real estate markets may have got the first big cooling measure today. The Office of the Superintendent of Financial Institutions (OSFI) announced they are moving to tighten uninsured mortgage leverage. The organization that regulates Canada’s banks, eased the mortgage stress test last year. Now that it’s clear mortgages don’t need stimulus, they’re looking to […]