Canada’s bank regulator to make mortgage announcement amid interest rate surge
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At the time, OSFI said in an environment characterized by increased household debt and low interest rates, it is essential that lenders test borrowers to ensure that they can pay their debts under more adverse conditions. Last week, OSFI Superintendent Peter Routledge responded to calls to lower or eliminate the minimum qualifying rate, saying the regulator sees great risk in speculating on the mortgage rate cycle and does not consider the stress test to be a tool to manage the demand for housing.
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