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The Latest In Mortgage News: OSFI Has No Plans To Loosen The Stress Test

Author: 
Steve Huebl
Publication date:
September 14, 2022
Article Summary: 

The Office of the Superintendent of Financial Institutions (OSFI) in Canada has no plans to loosen the mortgage stress test, according to its head, Peter Routledge. He acknowledged the pressure being placed on Canadian households due to increased inflation and rising interest rates. However, he stated that OSFI would not compromise on its underwriting standards in Guideline B-20. This comes after the Toronto Regional Real Estate Board called on OSFI to "weigh in" on whether the mortgage stress test is still applicable. Meanwhile, Canada's real estate market is facing a housing inventory shortage, according to a recent report by RE/MAX. Finally, Home Capital's plan to buy back $115m worth of shares was under-subscribed.

Keywords: 

OSFI, Canada, mortgage stress test, underwriting standards, Toronto Regional Real Estate Board, housing inventory, RE/MAX, Home Capital.



Source Citation: 
Steve Huebl
The Latest In Mortgage News: OSFI Has No Plans To Loosen The Stress Test
September 14, 2022
https://www.canadianmortgagetrends.com/2022/09/the-latest-in-mortgage-news-osfi-has-no-plans-to-loosen-the-stress-test/
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