The 2024 Fall Economic Statement announced that the Canada Revenue Agency (CRA) had reached out to mortgage originators and financial institutions. Their purpose was to brainstorm the best design for a new tool to combat mortgage fraud.

Unfortunately, since CRA's industry consultation was publicized, it's been mostly crickets.

Last week, we contacted a mortgage tech executive who often has the inside track on these matters. He told us, "I think they are making no progress." He wondered if it's even "on their radar any longer."

Unnerved by that bleak forecast, we contacted CRA this week. The objective was to see if this project’s got any traction or if it’s just spinning its wheels in bureaucratic mud. Here's what they told us:

Over the last seven days, we haven't heard a peep from the national frontrunners—rate stability is having a moment.

The government's proposal to scrap the 5% GST ($50K) on a $1 million home "could translate to mortgage savings of about $240 per month and a slightly smaller minimum down payment for homebuyers," reported Desjardins Economics on Monday.

But the headline savings are only half the story. Here's what else people should know about this change:

Canada's 5-year yield is lurking just below the conspicuous 3% level, above which it hasn't ventured in 4.5 months.

Here's what's moved 5-year #GoCs# on this data-starved Monday, and which way the yield winds were blowing:

Servus Credit Union is rolling out its Halal Mortgage this fall through a new wholly owned subsidiary, Servus Halal. The product is a clever workaround to paying interest, which is banned by Sharia law.

The structure caps loan-to-value at 80% with fixed monthly payments stretched over 25 years (because even divine finance appreciates predictable cash flows).

Servus's new offering is what Islamic finance calls a "Murabaha agreement," which means:

Friday's job reports sent bonds tumbling faster than a loonie down a Bay Street storm drain. MLN's got the lowdown on that, plus a fresh batch of mortgage nuggets to pad your off-hours reading list—because nothing says “weekend unwind” like rate quirks and industry drama.

North America's labour market took a tariff punch to the gut, but it's fighting its way out of the corner. Overall, May employment was a small upward surprise, north and south of the 49th. Yields are rallying as a result.

Here are the numbers that made economists’ hearts flutter: