Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Episode 145: BoC Rate Forecast, Mortgage Stress-Test Updates, and Housing Market Trends
In this episode, we begin with a welcome and introduction, leading into the Bank of Canada's rate forecast and insights into historical GDP performance. We discuss updates on mortgage stress-test rules and highlight new industry partnerships. The episode covers trends in Canada's housing market, focusing on new home prices, and reviews Equifax Canada's Consumer Credit Trends Report. We introduce the launch of the E-Mentor platform aimed at supporting new brokers and provide an update on FSRA's recent enforcement actions. The episode concludes with closing remarks and a sponsor reminder.
Key Points
- The Bank of Canada may need to lower its policy rate to 1.75% by July 2025, potentially reducing interest rates for variable-rate mortgages and personal loans by two percentage points.
- The Office of the Superintendent of Financial Institutions has adjusted mortgage stress-test rules to increase mortgage accessibility by reducing the stress-test buffer from two percentage points to one.
- Pineapple Financial's strategic partnership with Bank of Montreal through the BMO BrokerEdge initiative aims to enhance service capabilities and drive revenue growth in Canada's $1.8 trillion mortgage market.
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Transcript
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