💡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

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

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...