Tag: Stress Test

Morneau Ordered to “Review” Stress Test. What Can We Expect?

Morneau Ordered to “Review” Stress Test. What Can We Expect?

The directive from Prime Minister Justin Trudeau to Finance Minister Bill Morneau on Friday was short and sweet: “Review and consider recommendations from financial agencies related to making the borrower stress test more dynamic.” What will actually come from this review and the resulting tweaks (if any) to the mortgage stress test is unclear. BACKGROUNDER: There are two mortgage stress tests, one on insured mortgages (less than 20% down payment) and another on uninsured mortgages. The latter, implemented on January […]

bank-of-canada-downtown

BoC governors “encouraged” by mortgage stress test outcomes

In a press conference following yesterday’s interest rate announcement, Bank of Canada Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins discussed the reasoning behind the rate decision as well as the updated monetary policy report, as well as the effect that a so-called “insurance cut” would have.

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East Coast Mortgage Brokers is Newfoundland and Labrador’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.