💡Also in this edition: • DLC is a 10-Banger • Mortgage Bytes (lots of 'em) Also: A new Amortization Simulator is now available with the latest forward rates, post-Canadian CPI. OSFI says everything's a go for tomorrow's stress test policy change. The banking regulator confirms that "

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...

We spoke with FINTRAC last week to confirm what we thought we knew about mortgage broker 'know your client' (KYC) and ongoing monitoring obligations. Here's what a spokesperson told us: On when KYC checks are required