Canada Bank Regulator Urges Lenders to Tackle Risks From Mortgage Extensions Urgently

Canada’s bank regulator urges lenders to tackle risks from mortgage extensions at the “earliest opportunity.” This is as many borrowers try to navigate higher mortgage costs after the Bank of Canada’s surprise rate hike last week. CIBC and RBC raised their mortgage rates this month, raising the cost of existing variable and fixed-term mortgages for … Continue reading Canada Bank Regulator Urges Lenders to Tackle Risks From Mortgage Extensions Urgently