Home Builder Canada Readers survey
newsletter
NP_lineHome Builder Magazine New Products Online
NP_line
Computers, Educational
&Technology

NP_line
Electrical & Mechanical
NP_line
Exteriors
NP_line
Finishes & Surfaces
NP_line
Kitchens & Baths
NP_line
Landscape & Design
NP_line
Speciality Products
NP_line
Structural
NP_line
Tools & Equipment
NP_line
Windows & Doors
NP_line
New Products home
NP_line



External Links: Associations & Governments. Builders & Renovators . Manufacturers & Suppliers

Home . About Us . Subscribe . Advertise . Editorial Outline . Contact Us . Current Issue . Back Issues . Jon Eakes



© Copyright - Work-4 Projects Ltd.

Mortgage regulations could tighten further

January 23, 2023



As Canada’s housing sales plunge and prices in different markets plateau or tumble, the Office of the Superintendent of Financial Institutions (OSFI) is dreaming up new ways to make it even harder to afford a home.
OSFI announced proposals January 12, 2023, in response to what it says are building risks in Canada’s residential mortgage market.
“Unprecedented house price increases have been accompanied by record levels of household indebtedness, of which residential mortgages account for a large share,” OSFI said in its consultation document. “Federally regulated financial institution lenders, which hold approximately 80 per cent of all residential mortgages in Canada, are exposed to heightened risks from this indebtedness.”
OSFI’s three proposals include:

None of the proposed changes will be finalized until after OSFI’s consultation period which is open until April 14, 2023.

 


homeBUILDERcanada.com | Home BUILDER Magazine | Canada's #1 Information Source for Residential Home Builders and Professional Renovators

HB house ad sub
Home Builder Magazine Ask Jon Eakes
Home Builder current issue