A few weeks ago, bank regulator Peter Routledge noted that OSFI is "seeing a gradual rise in mortgage delinquencies from historically low levels, especially in variable rate fixed payment mortgages."
The regulator characterized these cases as "signs of stress."
That inspired us to contact OSFI for colour on what sort of stress we're dealing with here. Are they talking about a few air bumps—or a fasten your seatbelts and stop serving drinks kind of turbulence?
Here's what we learned:
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