For many Canadians, buying a home represents the most significant financial investment they will ever make. However, the dream of homeownership is becoming increasingly out of reach due to soaring housing prices, affecting middle-class citizens nationwide and prompting concerns about market stability. In response to these market conditions, starting on June 1st, 2021, the Office of the Superintendent of Financial … Read More
OSFI Considers Increasing Stress Test For Uninsured Mortgages
Sound residential mortgage underwriting is always important for the safety and stability of financial institutions; today it is more important than ever. – Jeremy Rudin, Superintendent The Office of the Superintendent of Financial Institutions (OSFI) restarted its consultation on the minimum qualifying rate for uninsured mortgages, and re-emphasized the importance of sound mortgage underwriting. This is likely stemming from several … Read More