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MORTGAGE RATE FORECAST......BCREA


As the year ends, it's worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was its usual upward sloping shape, with markets expecting gradual rate increases by the Bank of Canada. Based partly on those expectations, Canadian mortgage rates were climbing. However, within 8 months the yield curve in Canada had inverted, bond yields tumbled, and Canadian mortgage rates were once again heading lower.


https://www.bcrea.bc.ca/economics/mortgage-rate-forecast/


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"Stress Test" for all Mortgages to Launch in New Year

ll mortgage applicants will have to pass a “stress test” on their qualifying income – no matter how high their down payment – from January 1, the Office of the Superintendent of Financial Institutions (OFSI) confirmed October 17.

 

The stress test was introduced last fall to all applicants of insured mortgages (those with less than 20% down), but has now been extended to all mortgage applicants including uninsured borrowers, as that group comprises a larger segment of the mortgage market.

http://www.rew.ca/news/stress-test-for-all-mortgages-to-launch-in-new-year-1.23068135?utm_source=Consumer%3A+Vancouver+Market+News&utm_campaign=2dbba4b1dc-REW_Consumer_News_Friday_October_10_20_2017&utm_medium=email&utm_term=0_8e94885b84-2dbba4b1dc-93614499

 

 

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