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Canada extends stress tests to uninsured mortgages in 2018
The Canadian Office of the Superintendent of Financial Institutions this morning announced stress testing rules will be expanded to include both uninsured and insured mortgages in Canada. Starting January 1, 2018, Guideline B-20 requires the minimum qualifying rate for uninsured … Continue reading
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‘Big Short’ Eisman: Canada due for ‘pretty severe correction’ in credit cycle
Canada’s housing market is “ripe for a pretty severe correction” with Canadian Imperial Bank of Commerce the most vulnerable, according to Steve Eisman, a fund manager at Neuberger Berman Group LLC. Here is a direct video link. “In Canada, there’s … Continue reading
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Downsizing expenses and waste: a trend whose time has come
We’ve been writing for some time about secular trends that will increasingly urge baby boomers to downsize McMansion-style homes. Not only do people physically want less property upkeep as they age, but the drop in ‘safe’ income yields from 5 … Continue reading
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