Prime Minister Urges Review of Stress Test

Robb NelsonMortgage Talk Canada

by Kimberly Greene Minister of Finance Bill Morneau was urged to reconsider the borrower stress test in a Ministerial Mandate letter from Prime Minister Justin Trudeau. The prime minister reiterated Morneau’s commitment to four key principles for the implementation of the government’s fiscal plan: reducing the government’s debt; preserving Canada’s AAA credit rating; investing in people and things that give … Read More

Canadian housing costs have more than tripled since the ’80s

Robb NelsonMortgage Talk Canada

by Ephraim Vecina The cost of Canadian housing – which also covers water and utilities – shot up by more than 208.68% in the decades since 1980, according to Statistics Canada. The latest edition of the agency’s consumer price index also found that rent had a 144.2% increase during this period, while owner costs (inclusive of carrying costs) went up by … Read More

Why 4 websites give you 4 different credit scores — and none is the number most lenders actually see

Robb NelsonMortgage Talk Canada

By: Jenny Cowley, Jeannie Stiglic, Asha Tomlinson · CBC News Whether through ads or our own experiences dealing with banks and other lenders, Canadians are frequently reminded of the power of a single number, a credit score, in determining their financial options. That slightly mysterious number can determine whether you’re able to secure a loan and how much extra it will cost to pay … Read More