Banking regulator's proposals on mortgage rules lack stakeholder support
BNN Bloomberg
Mortgage strategist Robert McLister says the real estate industry is likely breathing a sigh of relief after Canada's banking regulator signalled it might not move ahead with some proposed tightening of its mortgage lending rules.
The Office of the Superintendent of Financial Institutions floated the proposals in January as part of its wide-ranging review of the B-20 mortgage underwriting rules.
It included potential additional conditions for a stress test, where would-be borrowers must prove they could continue to make mortgage payments at a higher interest rate.
It says stakeholders were generally not supportive of additional debt service measures and raised concerns about the disproportionate impact that new industry-wide measures could have on smaller lenders.
Wall Street is stumbling toward the finish line of a fourth straight losing week on Friday, but an ease in oil prices is taking some of the pressure off stock markets worldwide.
FedEx shares surged about 10 per cent before the bell on Friday, after the package-delivery giant raised its full-year profit forecast and signaled steady shipping demand despite geopolitical tensions and surging fuel costs.
Wall Street is stumbling toward the finish line of a fourth straight losing week, but an ease in oil prices is taking some of the pressure off stock markets worldwide.
In the latest episode of Ticker Take on YouTube, I spoke with Madden, chief investment officer at First Avenue Investment Counsel, about how his team searches for companies that score well across multiple investment disciplines.
Oil prices steadied on Friday on the intensifying Iran war to around US$110 a barrel, while global shares were mixed following Wall Street losses.
With energy markets reeling due to the U.S.-Israel war on Iran, there are calls for British Columbia to ramp up its production of liquefied natural gas.
Iran intensified its attacks on oil and natural gas facilities around the Gulf on Thursday, raising the stakes in a war that is sending shock waves through the global economy.
Canadian and U.S. stock markets fell on Thursday as higher oil prices stoked inflationary fears.
Canadian securities regulators on Thursday announced a pilot project to allow smaller issuers to voluntarily adopt a semi-annual financial reporting framework, in a bid to ease the regulatory burden for public companies.
ETF strategies shift to defensive sectors while targeting growth opportunities as volatility and geopolitical risks reshape investor sentiment.
When U.S. President Donald Trump returned to office last year, he launched a crusade to shift the country away from renewable energy, drastically undoing the climate-friendly policies of his Democratic predecessor to focus instead on oil and other fossil fuels as the answer to his goal of American energy dominance.
Markets remain resilient despite oil surge from Middle East conflict, as investors watch inflation risks and potential supply disruptions.
The federal government is buying 30,000 new modular assault rifles for the Canadian Army from Colt Canada in a $307 million procurement deal.