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.
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