OSFI’s new mortgage rules will decrease home affordability. OFSI’s (Canada’s banking regulator) has published final guidelines for its mortgage qualification rule. It will impose tighter standards on the uninsured market. Lenders will be required to “stress test” all uninsured mortgage loans at the greater of the Bank of Canada’s five-year (5) posted rate or […]
Toronto Personal Finance Posts
How much you need to earn to sustain a home in Toronto
Looking at the Toronto housing market through an analytical lens of percentages, changing sales numbers and interest rates may be the go-to method for industry insiders, but for many average customers, there’s really one thing that are important: “What can I afford?” To help answer that question, let’s calculate what degree of salary you […]