Six weeks ago, Scotiabank dropped a policy bomb with its STEP qualifying rate change. The move made it much harder for borrowers with higher debt ratios to get approved. After investigation, we've since unearthed suspected reasons behind this shift. The story that follows outlines those, as well as

💡In today's edition... • Fed mind games: Hawkish? Dovish? Both! • Nesto's exclusive with M3 is ending • Fixed rates on ice • Rogers tells the DoF what it should have already known It's been a smorgasbord of mortgage news this week...

When macroeconomic policies of the world's biggest economy change, markets go back to the drawing board on their rate outlooks. That's exactly what's happening as the Trump tornado blows into our bond market.