The Office of the Superintendent of Financial Institutions (OSFI) is proposing a stress test for uninsured mortgages. The proposal would require lower-risk borrowers to be approved at two percent (2%) above the rate offered to them by their lender.
As a REALTOR®, have your say and voice your concerns by communicating with your Member of Parliament. With over 122,000 REALTORS® across Canada, our industry has a real opportunity to be part of the conversation and it’s our responsibility to share our views with the federal government.
For more information on the new proposed mortgage measures, visit OSFI’s website.
Act Now! Send a letter to your Member of Parliament.