MLN NewsStream

If you didn't catch the CRA's request for comment on its new "income verification tool," it's not your fault. Apparently, CRA didn't think it was important enough to widely publicize and get maximum industry feedback.

That's okay. After all, it's only one of the most pivotal mortgage technologies since automated underwriting systems. Or, at least, it's got that potential—assuming CRA builds it properly.

For that to happen, the taxman has to get the right industry feedback. Based on how weakly it's seeking feedback, we worry it's not taking this seriously enough.

What if everything borrowers thought they knew about rates in 2025 was wrong?

That's what one of our favourite macro analysts, RBC's Frances Donald, posed in her Bloomberg appearance on Monday. She noted, "We're really starting to actively think about, is there a scenario that leads to [Fed] hikes in 2025?"

Hold up—did someone just say hikes?

Indeed, and Ms. Donald made that comment before the stagflationary risk of Trump's coercive tariffs made headlines on Tuesday. Is it just us, or is 2025 starting to feel like an interest-rate movie dreamt up by M. Night Shyamalan?

On November 1, Canada's banking watchdog unleashed its loan-to-income (LTI) limits on Canada's biggest banks. Curious about how things were progressing, we asked a Big 6 bank executive for his unvarnished take on how LTI is affecting the mortgage market.

One key takeaway: mortgages could become more of a game of chance, at least for some borrowers. And no doubt, many of those applicants won't be thrilled with the outcome.

If federal mortgage announcements leave your head spinning due to ambiguities and omissions, you're not alone. It's a wild dream, but maybe one day, regulators will let mortgage practitioners proofread their communications in advance. Then, edits can be made and mortgage pros will get all the key details they need on the day of the announcement.

We spoke with multiple lenders on Friday, and none of them felt overly confident about some of the finer points of OSFI's policy shift. When the lenders themselves are confused, you know we're in for a ride.

On that note, we got more clarifications from the banking regulator and lenders on the new uninsured switch change. Here's the latest...

Canada's bank regulator officially announced the removal of the federal mortgage stress test for borrowers switching from one lender to another, but oh, mama, the devil's in the details!