The Office of the Superintendent of Financial Institutions (OSFI) announced the mortgage qualifying rate for uninsured mortgages will remain at the mortgage contract rate plus 2% or 5.25%. An uninsured mortgage is a residential mortgage with a down payment of 20% or more. The decision by OSFI is in response to rising household debt and low-interest rates. The OSFI monitors the stress test rate to protect homeowners from rising interest rates and banks from defaults on mortgage payments.
Habitat Build Day 2022
Who is Habitat for Humanity? Habitat for Humanity Manitoba is one of 1,400 affiliates worldwide working to build safe, decent, and affordable homes for families. Every year, they partner with communities in Manitoba to help working, lower-income families achieve...
