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Canadian Mortgage Trends

OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada

OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada

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OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada
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OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada
OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada
OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada
OSFI tweaks rules for readvanceable mortgages - Mortgage Rates & Mortgage Broker News in Canada
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
The Office of the Superintendent of Financial Institutions (OSFI) announced a slight change to rules surrounding readvanceable mortgages on Tuesday. Readvanceable mortgages, also known as Combined Loan Plans (CLP), are typically a traditional amortizing mortgage blended with a revolving line of credit. In a statement, OSFI said it wants to be sure financial institutions are well-prepared to address the risk of persistent, outstanding consumer debt to lenders. “OSFI is continuously monitoring...
The Office of the Superintendent of Financial Institutions (OSFI) announced a slight change to rules surrounding readvanceable mortgages on Tuesday. Readvanceable mortgages, also known as Combined Loan Plans (CLP), are typically a traditional amortizing mortgage blended with a revolving line of credit. In a statement, OSFI said it wants to be sure financial institutions are well-prepared to address the risk of persistent, outstanding consumer debt to lenders. “OSFI is continuously monitoring...
Mortgage insurers clarify qualification rules for VRM applications amid rising rates - Mortgage Rate...
Mortgage insurers clarify qualification rules for VRM applications amid rising rates - Mortgage Rate...
Mortgage insurers clarify qualification rules for VRM applications amid rising rates - Mortgage Rate...
Mortgage insurers clarify qualification rules for VRM applications amid rising rates - Mortgage Rate...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
The Bank of Canada’s historic 100-bps rate hike last week has led to confusion over how the stress test should be applied to variable rate mortgage (VRM) applications already in lender pipelines. Specifically, the question arose as to how mortgage applications that were approved by lenders and submitted to default mortgage insurers prior to last week’s Bank of Canada rate increase—and subsequent prime rate increase—should be handled. On Tuesday, Canada’s three mortgage insurers—Sag...
The Bank of Canada’s historic 100-bps rate hike last week has led to confusion over how the stress test should be applied to variable rate mortgage (VRM) applications already in lender pipelines. Specifically, the question arose as to how mortgage applications that were approved by lenders and submitted to default mortgage insurers prior to last week’s Bank of Canada rate increase—and subsequent prime rate increase—should be handled. On Tuesday, Canada’s three mortgage insurers—Sag...
Equitable reports record earnings, sees reverse mortgages soar 262% - Mortgage Rates & Mortgage Brok...
Equitable reports record earnings, sees reverse mortgages soar 262% - Mortgage Rates & Mortgage Brok...
Equitable reports record earnings, sees reverse mortgages soar 262% - Mortgage Rates & Mortgage Brok...
Equitable reports record earnings, sees reverse mortgages soar 262% - Mortgage Rates & Mortgage Brok...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Despite a slowing housing market at the end of the first quarter, Equitable Group posted its best-ever quarter with net income up 27% on strong origination growth. It also expects strong growth to continue into 2022, due to a variety of factors. “…we are not the market, and we do expect our own momentum to continue into our traditionally busy spring and summer months,” said Chief Financial Officer Chadwick Westlake. President and CEO Andrew Moor explained this is partly due […]
Despite a slowing housing market at the end of the first quarter, Equitable Group posted its best-ever quarter with net income up 27% on strong origination growth. It also expects strong growth to continue into 2022, due to a variety of factors. “…we are not the market, and we do expect our own momentum to continue into our traditionally busy spring and summer months,” said Chief Financial Officer Chadwick Westlake. President and CEO Andrew Moor explained this is partly due […]
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Despite today’s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada’s banking regulator said no changes to the stress test are imminent. In a speech last week, the head of the Office of the Superintendent of Financial Institutions (OSFI), Peter Routledge, threw cold water on the prospect of the regulator making any tweaks to its stress test for uninsured mortgages, or those with down payments of 20% or more. “The uncertainty and anxiety caused by a rising interes...
Despite today’s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada’s banking regulator said no changes to the stress test are imminent. In a speech last week, the head of the Office of the Superintendent of Financial Institutions (OSFI), Peter Routledge, threw cold water on the prospect of the regulator making any tweaks to its stress test for uninsured mortgages, or those with down payments of 20% or more. “The uncertainty and anxiety caused by a rising interes...
The latest in mortgage news: OSFI unveils minor change to insurer capital adequacy test - Mortgage R...
The latest in mortgage news: OSFI unveils minor change to insurer capital adequacy test - Mortgage R...
The latest in mortgage news: OSFI unveils minor change to insurer capital adequacy test - Mortgage R...
The latest in mortgage news: OSFI unveils minor change to insurer capital adequacy test - Mortgage R...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
On Wednesday, Canada’s federal banking regulator unveiled revisions to its Mortgage Insurer Capital Adequacy Test (MICAT) for insured variable-rate mortgages (VRMs). The premise of the change from OSFI means the calculation used by Canada’s mortgage default insurers to determine their capital reserve requirements for residential VRM loans must be based on an amortization of no more than 40 years. The change is in response to rapidly rising mortgage rates, which have resulted in temporarily...
On Wednesday, Canada’s federal banking regulator unveiled revisions to its Mortgage Insurer Capital Adequacy Test (MICAT) for insured variable-rate mortgages (VRMs). The premise of the change from OSFI means the calculation used by Canada’s mortgage default insurers to determine their capital reserve requirements for residential VRM loans must be based on an amortization of no more than 40 years. The change is in response to rapidly rising mortgage rates, which have resulted in temporarily...
Variable-rate mortgages are about to trigger payment increases - Mortgage Rates & Mortgage Broker Ne...
Variable-rate mortgages are about to trigger payment increases - Mortgage Rates & Mortgage Broker Ne...
Variable-rate mortgages are about to trigger payment increases - Mortgage Rates & Mortgage Broker Ne...
Variable-rate mortgages are about to trigger payment increases - Mortgage Rates & Mortgage Broker Ne...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
There has been a lot of discussion recently about how variable-rate mortgage holders could face their “trigger point.” We’re going to explore what that means, and the implications for borrowers. Let’s first cover the basics. Most variable-rate mortgages have static monthly payments, which protect the borrower’s cash flow from fluctuations in the prime rate. Four of the Big Six banks offer fixed payments for variable-rate mortgages, and so do several credit unions. But, further Bank of...
There has been a lot of discussion recently about how variable-rate mortgage holders could face their “trigger point.” We’re going to explore what that means, and the implications for borrowers. Let’s first cover the basics. Most variable-rate mortgages have static monthly payments, which protect the borrower’s cash flow from fluctuations in the prime rate. Four of the Big Six banks offer fixed payments for variable-rate mortgages, and so do several credit unions. But, further Bank of...
BMO sees "modest" risk of rising delinquencies as mortgages renew at higher rates - Mortgage Rates &...
BMO sees "modest" risk of rising delinquencies as mortgages renew at higher rates - Mortgage Rates &...
BMO sees "modest" risk of rising delinquencies as mortgages renew at higher rates - Mortgage Rates &...
BMO sees "modest" risk of rising delinquencies as mortgages renew at higher rates - Mortgage Rates &...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
In its third-quarter earnings call, the Bank of Montreal said rising interest rates will have the greatest impact on mortgage borrowers at renewal time. And the bank will see $14 billion of its uninsured portfolio renew in the next 12 months. “We do expect the recent interest rate changes to impact borrowers when they refinance or renew, which ultimately could lead to increased delinquencies,” said Chief Risk Officer Pat Cronin. However, Cronin said there are several reasons why the bank ...
In its third-quarter earnings call, the Bank of Montreal said rising interest rates will have the greatest impact on mortgage borrowers at renewal time. And the bank will see $14 billion of its uninsured portfolio renew in the next 12 months. “We do expect the recent interest rate changes to impact borrowers when they refinance or renew, which ultimately could lead to increased delinquencies,” said Chief Risk Officer Pat Cronin. However, Cronin said there are several reasons why the bank ...
Mortgage Rates Watch April 2022: Mortgage Rates Hit Highest Since January 2019
Mortgage Rates Watch April 2022: Mortgage Rates Hit Highest Since January 2019
Mortgage Rates Watch April 2022: Mortgage Rates Hit Highest Since January 2019
Mortgage Rates Watch April 2022: Mortgage Rates Hit Highest Since January 2019
mashvisor@www.mashvisor.com mashvisor@www.mashvi... | 2 years ago
Mortgage rates play a very crucial role in the real estate industry. With the way things are going today, what can investors expect in 2022? Mortgages Have Swiftly Increased in…
Mortgage rates play a very crucial role in the real estate industry. With the way things are going today, what can investors expect in 2022? Mortgages Have Swiftly Increased in…
Have fixed mortgage rates peaked? - Mortgage Rates & Mortgage Broker News in Canada
Have fixed mortgage rates peaked? - Mortgage Rates & Mortgage Broker News in Canada
Have fixed mortgage rates peaked? - Mortgage Rates & Mortgage Broker News in Canada
Have fixed mortgage rates peaked? - Mortgage Rates & Mortgage Broker News in Canada
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Notwithstanding some additional rate hikes last week, fixed mortgage rates have seemingly plateaued following a stellar run-up over the past several months.
Notwithstanding some additional rate hikes last week, fixed mortgage rates have seemingly plateaued following a stellar run-up over the past several months.
Mortgage rates increase for the fifth straight week
Mortgage rates increase for the fifth straight week
Mortgage rates increase for the fifth straight week
Mortgage rates increase for the fifth straight week
In-depth analysis, data and st... In-depth analysis, d... | 2 years ago