testimony

OSFI calls fixed-payment variable rate mortgages dangerous

Fixed-payment variable rate mortgages a “dangerous product,” says OSFI

November 2, 2023 1 Comment

Canada’s banking regulator said Thursday it views fixed-payment variable-rate mortgages as a “dangerous product” that puts certain borrowers at increased risk of default.

Bank Of Canada Governor Tiff Macklem speaks in Ottawa

Expected wave of mortgage renewals contributed to latest rate hold: Bank of Canada

November 1, 2023 1 Comment

The large number of mortgages coming up for renewal at higher rates is one reason why the Bank of Canada decided to leave its target rate unchanged at 5.00% last month.

Tiff Macklem, governor of the Bank of Canada, and Carolyn Rogers, senior deputy governor of the Bank of Canada

Bank of Canada watching trend of longer amortization periods among borrowers

April 19, 2023 3 Comments

The Bank of Canada is investigating a growing trend of borrowers extending their mortgage amortization periods amid persistently high interest rates and ongoing inflationary pressures.

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testimony

Fixed-payment variable rate mortgages a “dangerous product,” says OSFI

Expected wave of mortgage renewals contributed to latest rate hold: Bank of Canada

Bank of Canada watching trend of longer amortization periods among borrowers

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