Posts from the ‘Mortgage Rule Changes’ Category
New Mortgage-Rule Changes: HELOCs & Reverse Mortgages
Monday Morning Interest Rate Update for July 4, 2022
Today’s post outlines the mortgage rule changes that OSFI just made to HELOCs and reverse mortgages, and also offers my take on a rising risk that it failed to address.
Five Changes to Help Canada’s Housing Affordability Crisis
Monday Morning Interest Rate Update for September 30, 2019
In today’s post I turn my attention to a key issue for voters in our upcoming federal election: housing affordability.
The New Bank of Justin and Bill
Monday Morning Interest Rate Update for March 25, 2019
Our federal government just released its 2019 budget, and it included several initiatives that were designed to improve housing affordability for Canadians. Today’s post offers my take.
A Detailed Look At Canada’s Mortgage Stress-Test Rate
Monday Morning Interest Rate Update for November 13, 2017
Today’s post looks at the Canadian mortgage stress-test rate, which has quickly become one of our most important financial benchmarks.
New Mortgage Rules Announced: The Good, The Bad and The Ugly
Monday Morning Interest Rate Update for October 23, 2017
Today’s post outlines the mortgage-rule changes that were announced last week and discusses the implications for Canadian borrowers, mortgage rates and house prices.
The New Canadian Mortgage Landscape
Monday Morning Interest Rate Update for December 5, 2016
The latest round of mortgage rule changes kicked in last week and lenders wasted no time in adjusting their product offerings, in some cases by adding new rate premiums and in others by pulling products altogether. Today’s post answers five key questions relating to these questions.
What Canada’s Fifth Round of Mortgage Rule Changes Mean For You – Part Four
Monday Morning Interest Rate Update for October 19, 2016
In Part Four, I propose three tweaks that I think our policy makers should make to these latest rounds of mortgage rule changes. Not that they asked mind you – I haven’t found any industry insiders who were consulted before these changes were announced, but here’s hoping they’re open to suggestions and that they read my posts!
What Canada’s Fifth Round of Mortgage Rule Changes Mean For You – Part Three
Monday Morning Interest Rate Update for October 17, 2016
In today’s post, Part Three, I’ll explain why I support the view that more changes were necessary and I’ll offer my take on the longer-term impacts that these specific changes will have on our borrowers, lenders, and housing markets. Then I’ll close by offering my opinion on whether our policy makers got these changes right.
What Canada’s Fifth Round of Mortgage Rule Changes Mean For You – Part Two
Monday Morning Interest Rate Update for October 11, 2016
If the first mortgage rule change raised the qualifying bar for mortgage insurance, the second wave of rule changes completely eliminates mortgage insurance for certain categories of borrowers. To be clear, these changes don’t mean that affected borrowers won’t still have access to mortgages, but they do mean that these borrowers will have fewer options than before and should expect to pay rates that are higher than the lowest available.
What Canada’s Fifth Round of Mortgage Rule Changes Mean For You – Part One
Last Updated on November 6th, 2017
Yesterday our federal Finance Minister Bill Morneau announced a series of changes to the rules used to underwrite insured mortgages. There is a lot to unpack so I’ll do it in three installments: Part One will focus on the change that will take place on October 17, Part Two will cover the changes that will take place on November 30, and Part Three will offer my take on the longer-term impacts that these changes will have on Canadian borrowers and our housing markets across Canada.
A Quiet Announcement That Could Have a Big Impact on Future Canadian Mortgage Rates
Monday Morning Interest Rate Update for September 19, 2016
The Office of the Superintendent of Financial Institutions (OSFI) recently launched a proposal that could push future Canadian mortgage rates higher.
The Next Mortgage-Rule Change That Our Government Should Make
Monday Morning Interest Rate Update for June 13, 2016
The Next Mortgage-Rule Change That Our Government Should Make – Monday Morning Interest Rate Update (June 13, 2016)
What Last Week’s Changes To Our Mortgage Rules Mean for You
Monday Morning Interest Rate Update for December 14, 2015
What Last Week’s Changes To Our Mortgage Rules Mean for You – Monday Morning Interest Rate Update (December 14, 2015)
All About CMHC’s Mortgage-Insurance Premium Changes
Monday Morning Interest Rate Update for March 3, 2014
Last Friday Canada Mortgage and Housing Corporation (CMHC) announced that it will increase its mortgage-default insurance premiums, effective May 1, 2014. Current premiums will remain in effect on all mortgage applications that are submitted before this date, even in cases where the transaction closes well after the changeover deadline. Bluntly put, the impact on the […]
The Mortgage Rules They Are a Changin’
Monday Morning Interest Rate Update for June 25, 2012
Stay on top of where mortgage rates are headed with Dave’s Monday Morning Interest Rate Update for the week of June 25, 2012.
