Regulator proposes new capital requirements for lenders

New regulations are set to increase the capital requirements for Canada’s largest mortgage lenders. The Office of the Superintendent of Financial Institutions Canada (OSFI) has announced a public consultation on proposals to “ensure that capital requirements remain prudent in periods where house prices are high relative to household income and/or house prices are increasing rapidly in nominal terms.”

The new rules, due in the fall, are part of the changes OSFI announced in December 2015 which it says “provide a measured and forward looking response to the changing risks occurring in the Canadian mortgage market.”

It is uncertain to what degree the changes would affect mortgage rates from the 7 largest mortgage lenders.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Ile des Chênes, Stratford, Major, Holland, Wesleyville

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?