Latest / The Jill Bennett Show
New OSFI B-20 Regulations Requiring That Uninsured Borrowers Be Stress-tested
So here we are in the lead-up to the January 1 implementation of the new OSFI B-20 regulations requiring that uninsured borrowers be stress-tested at a mortgage rate 200 basis points above the contract rate at federally regulated financial institutions. It is no surprise that home sales rose in advance of the new ruling. Even so, activity remains below peak levels earlier this year and prices continue to fall in the Greater Toronto Area (GTA) for the seventh consecutive month. Guest: Sherry Cooper - Chief Economist, Dominion Lending Centres Learn more about your ad choices. Visit…
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