The bar is now higher for homebuyers to qualify for mortgages in Canada after the central bank raised a key metric used in stress tests that determine borrowers' eligibility
Rate is fully 100 basis points below the bank’s prime rate
Scotiabank is the latest chartered bank to hike its interest rate
Hikes were described as the 'biggest move in years'
Aside from cooldown in the housing markets, several other factors are contributing to this lethargy
Many tax filers recognize that paying down debt or investing are smarter ways to spend their tax refund than splurging on a new big-screen TV or a quick weekend getaway
How long until everybody else jumps in too?
Practices can lead to sales cultures that are not always aligned with consumers' interests, says FCAC commissioner
Canadian household debt is through the proverbial roof
What's bad for borrowers is bad for brokers