Proposed new minimum qualifying rate for uninsured mortgages will help shore up underwriting standards
Mortgage credit quality is highly correlated to jobs and house prices
Economists predict the new test for insured mortgages will lead to a modest increase in purchasing power
Advisors can help allay client concerns
Nearly two-thirds of residential mortgages that were over 90 days in arrears in Q1 2019 were uninsured
Conservative leader says he’ll “fix” the stress test, lengthen amortization periods
BMO finds enthusiasm for the plan — but will homebuyers qualify?
Brookfield to acquire 57% interest in Genworth
Non-bank lenders held 1.7 million residential mortgages in Q4 2018
The changes reflect new regulatory requirements that require mortgage insurers to hold additional capital