osfi News and Articles | My Blog
OSFI's stress test change sparks industry confusion
11/29/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
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
Canada's banking regulator loosens mortgage stress-test rules. Who will benefit?
11/25/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Effective Thursday, uninsured bank borrowers no longer need to show they can afford a higher rate when switching lenders.
... MoreOSFI eliminated mortgage stress test to avoid losing public confidence: Routledge
10/3/2024 | Posted in Mortgage News by Paul DeAdder
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 ... More
OSFI doubles down on keeping stress test for uninsured mortgage switches
6/13/2024 | Posted in Government and Regulation by Paul DeAdder
The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches.
... MoreBank Regulator in Canada Warns of Housing-Payment Shock by 2026
5/22/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
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 ... More
OSFI announces new stress test for uninsured mortgages
4/16/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian regulator cracks down on high-debt mortgages to protect borrowers
... MoreOSFI rejects Competition Bureau recommendation to drop mortgage stress test for lender switches
3/22/2024 | Posted in Government and Regulation by Paul DeAdder
Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders.
... MoreLatest in Mortgage News: OSFI leaves stress test rate unchanged
12/13/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.
... MoreOSFI seeing a deterioration in credit quality, says borrowers to face challenges at renewal
10/12/2023 | Posted in Home Owners by Paul DeAdder
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
Banking regulator working with lenders to stamp out ultra-long mortgages
9/27/2023 | Posted in Mortgage News by Paul DeAdder
Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer
... MoreWhat impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.
... MoreCanadian reverse mortgage debt reaches nearly $4 billion
1/28/2020 | Posted in Financial Health by Paul DeAdder
Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More
Regulator defends mortgage stress test in face of pushback from industry
6/11/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
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.
... MoreOSFI increases domestic buffer to 2% amid household debt risk
6/6/2019 | Posted in GTA Real Estate by Paul DeAdder
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.
... MoreThe mortgage 'stress test' has started harming Canadians more than it helps
2/26/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Ten per cent of Canadians no longer qualify for a mortgage with banks.
... MoreRegulator OSFI opens door to easing Canadian mortgage rules
2/6/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
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 ... More
OSFI stress test has cut millennial purchasing power by $40K
4/30/2018 | Posted in First Time Home Buyers by Paul DeAdder
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
Millennials to lead the charge in a future surge of home purchases
4/5/2018 | Posted in Home Buyers by Paul DeAdder
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
Longer amortizations and higher costs: Our mortgage outlook for 2018
12/25/2017 | Posted in Mortgages and Real Estate by Paul DeAdder
It’s almost a tradition that Canada’s mortgage czars clamp down on housing in the new year, and 2018 is no exception.
... MoreStress test to hit 'move-up' home buyers the hardest
10/20/2017 | Posted in Home Buyers by Paul DeAdder
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
OSFI says stress test, lending rule changes will start Jan 1, 2018 - Industry Reactions
10/18/2017 | Posted in Mortgages and Real Estate by Paul DeAdder
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.
... MoreProposed mortgage stress test unnecessary and harmful: Fraser Institute
10/11/2017 | Posted in Mortgages and Real Estate by Paul DeAdder
A new stress test for all uninsured mortgages is unnecessary and could increase costs for homebuyers, a report by the Fraser Institute said Wednesday.
... MoreProposed mortgage rules aim to reduce financial risk in Canada's hot housing markets
7/7/2017 | Posted in Mortgage News by Paul DeAdder
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
