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Tag Archives: Government

Homebuyers to Face More Stringent Mortgage Stress Test After June 1

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Canada’s banking regulator has proposed changes that would strengthen the stress test applied to uninsured mortgages. The Office of the Superintendent of Financial Institutions (OSFI) unveiled its proposed changes on Thursday, which would require borrowers applying for uninsured mortgages—typically those with more than a 20% down payment—to qualify at their mortgage contract rate plus two [&hellip…

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Statistics Canada reveals latest inflation rate

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by Jordan Press Canada’s headline inflation barometer rose 1% in January compared with the same month last year, accelerating from the end of 2020 and poised to go higher in the coming months. The consumer price index hasn’t been above the 1% threshold since one year ago this month, when inflation rose 2.2% compared to [&hellip…

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StatsCan reveals fastest growing Canadian cities

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The COVID-19 pandemic proved to be no impediment to Canada’s fastest growing cities, which now sport population growth rates approaching and even exceeding 2%. Taking 2019 and 2020 trends into account, Statistics Canada reported the communities with the strongest population growth: Oshawa – 2.1% Halifax – 2% Kitchener-Waterloo-Cambridge – 2% Kelowna – 1.9% Calgary – 1.9% Saskatoon [&hellip…

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