Below are importantclarifications on Canada’s newB-20 mortgage rules. Most of this stuff was not explicitly discussed in OSFI’s announcementyesterday. But if you’re getting a mortgage or HELOC, it’sneed-to-know info. Amortization...

We allknew it was coming, but now the reality sets in. The ruler of Canadian banking (OSFI) has solidifieda rule change that’ll impactmore mortgagorsthan any rule we’ve seen to date....

For now, the daysof sub-2% everyday mortgage rates areofficiallyover. Wednesdaymorning’s slightly surprising 1/4-point Bank of Canada hike was the nail in that coffin. The ensuing 1/4-point bump in prime rate...

Lenders wantto make sureyou can afford higher mortgage payments if interest rates soar. So does the government. That’s why regulators created the mortgage qualifying rate (MQR) — a.k.a., “benchmark qualifying...

In just the latest reminderthat banks valueprofitabovePR, each ofthe Big 5 havehiked prime rate by a full 1/4 point. That means the rate variable mortgages are based on risesto2.95% on...

The kingpin of Canadian interest rates has officially made it more expensive to borrow — for the first time since 2010. By boosting its overnight rate target 1/4%-point this morning,...

Canada’sbanking overlord, OSFI, is proposing a new 2-percentage-point (200-bps) “stress test” for people getting uninsured mortgages. Unlike the current stress test, which is based on onerate (the Bank of Canada...

OK, how do I put this in a way that doesn’t sound over the top or like fear mongering? There was this mortgage rule proposal today, and it was a...

“It does look as though [rate]cuts have done their job.” That was Bank of Canada chief Stephen Poloz in a CNBC interview today. It was the second time he’s provided...

People who live in Ontario are getting used to Meridian Credit Union’s quick-hit rate specials.Every few quarters the company seems to roll out a rate that undercuts just about everyone....