OSFI considering the need for additional regulations on existing mortgages + MORE Apr 22nd

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Rate hikes, food inflation, mortgage costs: How to get through the cost of living crisis + MORE Jul 18th

No matter the state of your finances, avoiding your fears is not the way forward, experts say. Focus on what you can control..... More »

Can you pay off your debt while saving for retirement? + MORE Sep 2nd

Ask MoneySense We are a blended family. My husband, at 50 years old, owns a home with a $330,000 variable-rate mortgage. He rents it out for $3,400 per month, which covers the mortgage plus about $1,000. He’s also maxed out his $50,000 line of credit. He has $200,000 in an RRSP and has a company p.... More »
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How To Navigate Three Common Mortgage Scenarios + MORE Aug 15th

It’s a confusing time to be a homeowner. Rates are up, and everyone has an opinion on what will happen next. It’s easy to get sucked into social media rabbit holes and make decisions motivated by fear. But at times like these, it’s crucial to block out the noise and do what’s right for you. .... More »

Scotiabank’s return to competitive mortgage pricing is “huge” for brokers + MORE Aug 2nd

Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive pricing is back, along with an expanded retail package program. As Ron Butler of Butler Mortgage described, .... More »
The country’s inflation rate may be coming down, but there are still some parts of the economy exerting upward pressure, including, ironically, high inflation rates.

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Canada’s banking regulator says it is considering whether to extend the scope of its mortgage guidelines to include existing mortgages. In its second Annual Risk Outlook released this week, the Office of the Superintendent of Financial Institutions (OSFI) said it will “consider the scope of Guideline B-20, which currently focuses on mortgage origination, and assess whether expectations should extend to principles for management of existing mortgage accounts and incorporate more recent supervisory insights.” OSFI’s existing regulatory guidelines apply to all […]

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The Bank of Canada is investigating a growing trend of borrowers extending their mortgage amortization periods amid persistently high interest rates and ongoing inflationary pressures.

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