MortgageLogic.news (Page 31)

Chances Falling for MQR-Exempt Mortgages at MFCs

Robert McLister Dec 04, 2024 1:19 AM ET

💡The latest Amortization Simulator is now live, complete with the market's latest forward rate outlook. (Download here) As we approach the biggest mortgage renewal cycle ever, brokers are starting to question OSFI's recent stress test exemption on uninsured switches. It's looking suspiciously like a

Scotiabank Faces Potential Mortgage Renewal Class Action

Robert McLister Dec 01, 2024 11:58 PM ET

Thousands of long-time mortgage brokers and unwitting customers have experienced Scotiabank's frustrating mortgage renewal policy. If you don't renew or pay out the mortgage by the deadline, the bank shackles you to a new closed term. Borrowers must then often pay hefty penalties to get out

OSFI Shares More on Stress Testing Switches

Robert McLister Nov 29, 2024 11:57 PM ET

💡See also: Mortgage Bytes (below) The bank regulator's axing of the mortgage stress test on uninsured switches was a win for consumers—but so far, only a partial win. OSFI has definitively confirmed that the stress test exemption "does not apply to straight [uninsured] mortgage switches from

CRA's Income Tool: Industry Input Urgently Needed

Robert McLister Nov 28, 2024 3:59 PM ET

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

Economic Extortion Can Change the Rate Outlook

Robert McLister Nov 26, 2024 11:58 PM ET

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

Chances Falling for MQR-Exempt Mortgages at MFCs

Scotiabank Faces Potential Mortgage Renewal Class Action

OSFI Shares More on Stress Testing Switches

CRA's Income Tool: Industry Input Urgently Needed

Economic Extortion Can Change the Rate Outlook

Investors Dump Bonds After BoC/Fed Cuts

BoC Makes a “Careful” Cut. Tiptoes Around Inflation Risks

Rising Job Losses Trump Inflation. Fed Cuts 25 Bps