Amid heightened interest rates and a diminished probability of another series of hikes from the Bank of Canada, one economist says it is time for the federal government to review its mortgage stress test.
Despite the falling probability of another series of rate hikes from the central bank, Hogue said that policymakers will likely look to “maintain a high degree of stringency” to keep systemic risks to a minimum amid economic uncertainty. was initially put in place in 2018 as a way to sure up mortgage underwriting practices against concerns regarding rising home prices and high household debt.
“This rate has frustrated potential homebuyers with less than stellar borrowing credentials—some of whom are no longer able to get a mortgage from federally-regulated lenders . It’s also impacted stronger borrowers by reducing the maximum size of mortgage they qualify for,” said Hogue. “Clearly the stringency of the test has significantly increased. Has it become overly stringent in the current circumstances?” he questioned.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
What mortgage owners need to know about the Bank of Canada hike - BNN BloombergThe latest Bank of Canada interest rate hike could leave some Canadians looking to adjust their mortgages, according to one mortgage broker.
اقرأ أكثر »
Big banks raise prime rate to 6.45% following Bank of Canada hikeRoyal Bank of Canada raised its prime rate by 50 basis points Wednesday following the Bank of Canada rate hike earlier in the day. Read on
اقرأ أكثر »
Interest rate rises 50 points as Bank of Canada hints end near for hikesThe Bank of Canada on Wednesday hiked its benchmark overnight interest rate by 50 basis points to the highest level in almost 15 years.
اقرأ أكثر »
Big banks raise prime rate to 6.45% following Bank of Canada hikeRoyal Bank of Canada raised its prime rate by 50 basis points Wednesday following the Bank of Canada rate hike earlier in the day. Read on
اقرأ أكثر »
Big banks raise prime rate to 6.45% following Bank of Canada hikeRoyal Bank of Canada raised its prime rate by 50 basis points Wednesday following the Bank of Canada rate hike earlier in the day. Read on
اقرأ أكثر »
John Manley: Government should give Bank of Canada leeway to fight inflation - BNN BloombergPolicymakers have “no good choices” when trying to balance the fight against inflation and minimizing economic impacts on residents, but a former federal finance minister and deputy prime minister said the government should take a hands-off approach and not enact policies that interfere with the Bank of Canada’s aggressive approach.
اقرأ أكثر »