Luxury Toronto condo The One put into receivership and more Canadian real estate news for October 21
Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.
Take The Globe’s business and investing news quiz
Canada’s bank regulator says it won’t relax stress test on mortgage renewals
The Office of the Superintendent of Financial Institutions (OSFI) says it will not exempt uninsured borrowers from the mortgage stress test if they switch to a different lender at renewal time, writes Rachelle Younglai. Calls from the real estate industry to relax the stress test have been growing, as the spike in mortgage rates has made it harder for borrowers to qualify for a mortgage.
The regulator said exempting all renewals from the stress test “could cause lenders to