Toronto home sales decline in January, 2018. The prices appear relatively flat and the house sales were down about 40 per cent over the last two weeks in February, 2018, in the Toronto area compared to the same period in 2017, while condo sales dropped about 30 per cent, said Pasalis, real estate broker. […]
home affordability
OSFI’s new mortgage rules will decrease home affordability
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 […]