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Industry Leader Calls for Stress Test Fixes Now

—The Mortgage Report: June 29— Stress Test Fix Overdue: Ottawa was sensible to pause the mortgage stress test changes “given the marketplace uncertainty in March,” says Paul Taylor, President and...

People Get Squeezed on Mortgage Renewals

—The Mortgage Report: Weekend Edition— Renewal Tax: Borrowers get worse deals on mortgage renewals than on brand new mortgages. And it’s been that way for decades. Interest rates on renewals...

Canada Kicked Out of the AAA Club

—The Mortgage Report: June 24— We Just Got Downgraded: The government is spending too much and it’s caught up with them. Our record quarter-trillion deficit worried Fitch, a ratings firm,...

CMHC Bearish on Home Prices, But…

—The Mortgage Report: June 23— Prices Will Fall, Unless They Don’t: “Short-term uncertainty will lead to severe declines in sales activity and in new construction,” CMHC reported Tuesday. “House prices...

New 1-Year Fixed Rate: Lowest Since 2016

—The Mortgage Report: June 22— Just the Latest Head-Turning Rate: What would a week be without a new low in mortgage rates? The latest term to wear the low-rate crown...

Divorcing 1.99%

— The Mortgage Report : June 18 — For Better or Worse: When you take a bank’s 5-year fixed you’re married to it for half a decade. That is, unless...

How Low Can Inflation Go?

— The Mortgage Report : June 17 — Prices Slide: The Bank of Canada wants average core inflation at/near 2%, but it’s currently 1.67% and diving. That’s noteworthy for borrowers...