Mortgage Broker

OSFI’s Mortgage Stress Test: What You Need to Know

Canada’s banking watchdog, OSFI (Office of the Superintendent of Financial Institutions Canada) announced that there will be a new minimum qualifying rate, or “stress test” for borrowers with a down payment of 20% or more effective January 1, 2018. Buyers will need to prove that they can afford payments based on the greater of the […]

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Why the Lowest Mortgage Rate may not be the Best Mortgage Rate

According to the 2016 Mortgage Consumer Survey, 59% of mortgage consumers cited “best rate” as one of the key reasons they chose to obtain their mortgage through a broker (52% said excellent service was another key reason). What do they mean by “best rate?” Well if they’re not unlike many of the clients I first

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