Category Archives for Mortgage Stress Test

Stress Test Mortgage Update - November 2017

Stress Test Mortgage Update – November 2017

New “Stress-Test” 2017 / 2018 Mortgage Rules Changes Explained Recently as you have probably heard in the major news media, like Global News and CBC, late in 2016, new rules were announced by OSFI with respect to residential home mortgages. The decisions leading up to these new rules are primarily driven by ‘expert’ concerns about rising home prices in a few Canadian markets Vancouver, and Toronto.  Prices in Victoria, BC are up significantly as well but our demand continues to outstrip supply even after the first wave of new rules have been implemented.  The thinking behind making it more difficult for Canadians to buy and refinance is that it might calm down the housing market, and specifically limit price increases. I’m not going to get into it too deeply here but the thinking behind these new rules is counter-intuitive, and possibly quite damaging to Canadian families and the Canadian economy […]

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