Navigating the Latest OFSI Mortgage Rate Announcement: What It Means for Canadian Homeowners
General Derek Cole 17 Dec
Introduction: The Office of the Superintendent of Financial Institutions (OFSI) has recently announced that the Minimum Qualifying Rate (MQR) for residential mortgages will remain at the greater of 5.25% or the mortgage contract rate plus 2%. This decision is pivotal for both uninsured and insured mortgages in Canada, impacting a broad spectrum of homeowners and […]
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