“Bank Regulator OSFI warns more borrowers could struggle to make payments”. Even though the BoC did drop their policy interest rate to 4.75% last week, Canada’s top bank regulators still says most Canadians are not out of the woods.
OSFI says 76% of mortgages outstanding as of February 2024 will be coming up for renewal by the end of 2026. So...in the next 2 years...will we see the BoC continue to drop their policy rate? Will OSFI starts making critical moves with their policy? Keep an eye on this friends and please keep a close eye on how this come into play in your world.
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