Prospective home owners may see their affordability shrink as another set of mortgage rules are slated to go into effect this summer. Here’s what buyers need to know.
It has been a truly hot spring housing season, and lenders are using new mortgage marketing tactics as a result. Here are three we’ve seen so far – and whether they’re truly as great as they seem.
Back in March of this year, OSFI (Office of the Superintendent of Financial Institutions Canada) released their draft recommendations to banks and other federally regulated lenders to tighten underwriting practices. The OSFI was calling on banks to submit their feedback to the suggested changes with the deadline being this past Tuesday, May 1st.