federal government regulations

Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homes

April 11, 2024 2 Comments

Advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers.

OSFI seeks to address “problem” of fixed-payment variable-rate mortgages

September 7, 2023 1 Comment

It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today.

Critics say OSFI’s proposed mortgage changes could do more harm than good

May 4, 2023 No Comments

While OSFI’s proposed underwriting changes announced in January were presented as an effort to control market risk, critics say the regulator risks overtightening a market that is already in decline.

OSFI comments on mortgage amortization extensions_med

OSFI says mortgage amortization extension “not without risks”

April 14, 2023 No Comments

Temporarily extending amortization periods has been a saving grace for many variable-rate mortgage holders as a way to manage the impact of higher interest rates

The latest in mortgage news: Feds amend foreign buyer ban

March 29, 2023 No Comments

The Government of Canada has unveiled four amendments to its foreign buyer ban less than three months after the legislation took effect.

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