The increase in renewals comes as mortgage rates have been rising
Mortgage brokers increasingly direct home buyers toward alternative lenders
The hikes follow a move by the Bank of Canada to boost its key short-term rate
RBC, TD and CIBC raise rates
Interest rate shocks for some households could be “significant,” report warns
The new rules will extend stress-testing requirements for homebuyers to uninsured mortgages
Stress tests examine impact of several extreme scenarios on the mortgage lender
The revised guidelines will come into force Jan. 1.
The Fraser Institute’s study is being published as the federal regulator of financial 9nstitutions finalizes new lending guidelines
The banking regulator will put forward updated mortgage underwriting guidelines by the end of the month