As reported Tuesday, Canada's bank regulator plans two changes to the capital requirements of banks and default insurers. They take effect November 1 and could limit the availability of fixed-payment variable-rate mortgages at banks. According to industry executives we interviewed last week, here's the likely outcome.

It's been a trying two months for mortgage originators. As if 50 bps of post-BoC-pause rate tightening wasn't bad enough, yields surged even more. The benchmark 5-year Canada Mortgage Bond, for example, climbed 80 bps in that timespan. Several new long-term rate highs were made in

When this rate hike cycle began in early 2022, few envisioned Canada's overnight rate with a 5-handle—certainly not the 1 in 2 borrowers who chose floating rates at the time. But that's precisely what we've got. Canada’s overnight rate just hit 5%