Financial Post: Mortgage stress tests may be driving riskier homebuyers to borrow from private lenders

Canada’s housing market cooled during the year’s first half after rising interest rates and efforts to weed out risky buyers took their toll, according to the country’s largest public mortgage provider. Housing market sales financed through Canada’s banks — which account for three quarters of the market — slipped to $60.3 billion for the first six months of the year compared with $64.9 billion during the same period last year, Canadian Mortgage and Housing Corporation said in a statement Wednesday. Read More....


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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988