Greed At The Peak

Posted on June 5, 2026June 5, 2026 by admin

The Canadian mortgage industry got greedy as house prices surged post Covid. Prior to the run up in prices, it was rare to see more than two people on a mortgage. With surging purchase prices, and tightening regulations by OSFI, your typical two income household wasn’t qualifying for the mortgages they needed. To solve this problem lenders and mortgage brokers started adding additional co-applicants to applications to get the deals approved. Now you had three, four, five, sometimes ...

When Affordability Collides With Suitability

Posted on May 21, 2026May 21, 2026 by Andy MacDonald

In the olden days, when a couple wanted to buy a home, they saved for a downpayment, and qualified for a mortgage on their own. Occasionally, they would get a gift from a family member, but it was generally a nominal amount. This all changed post pandemic when house prices accelerated exponentially and people became fearful of never being able to buy a home. We began to see purchasers adding multiple family members to mortgage applications just to qualify for their mortgage. In some cases, M...