City News Update March 22 – New mortgage regulations in Canada
Clinton Wilkins joins Rob Snow on City News to discuss a significant change in mortgage regulations taken by the Office of the Superintendent of Financial Institutions, OFSI. The change impacts borrowing limits and the amount lenders can give out based on annual income. They dive into the implications of what Clinton calls the stress test 2.0, and highlight some predictions made by economists of the softening of rates soon.