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As of June 1st, uninsured mortgages must qualify at the greater of a 5.25% interest rate or the contract rate plus 2%. You can read the formal announcement here.

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is June 9, 2021. Press release  

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is April 21, 2021. Press release  

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is March 10, 2021. Press release  

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is January 20, 2021. Press release  

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is December 9, 2020. Press release  

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is October 28, 2020. Press release  

The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is September 9, 2020. Press release  

Yesterday afternoon, CMHC announced changes to its mortgage insurance underwriting and acceptance criteria. Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance: The maximum gross debt service (GDS) ratio drops from…