Canada's Revised Mortgage Guidelines Boost Market Stability

Vancouver, Toronto, Calgary

2023/02/03

As Canada's banking regulator, the OSFI is considering tighter rules on mortgage lending. This could also create a panic as buyers rush to enter the housing market before it gets harder to do so. The proposed rules will also affect debt service obligations and the mortgage stress test. The consultation period for these proposals closes on April 14th, and any changes are unlikely to take effect until later in 2023.