Critics say new mortgage rules will push borrowers to unregulated lenders Canada's banking regulator will move ahead with controversial new mortgage stress-testing rules in an effort to curb risky lending practices at banks, but critics say the changes will drive more borrowers to unregulated alternative lenders and add risk to the financial system more broadly. The Office of the Superintendent of...
The Bank of Canada (BOC) raised the prime rate by 0.25% today taking the last of the 2015 emergency stimulus out of the system. The rate increase was expected to happen in October, however the economic growth seen over the summer was enough for the BOC to make the move on 6th Sep 2017. So why is today's rate increase a good thing? The first reason is it confirms that the economy is finally finding its...