The importance of sound residential mortgage underwriting - osfi

At the C.D. Howe Institute in Toronto, Ontario, OSFI Assistant Superintendent Tolga Yalkin spoke on April 13th, 2023 about the measures OSFI has taken to ensure sound residential mortgage underwriting and credit quality in times of high inflation, high interest rates, and high household indebtedness. Yalkin discussed the risks associated with unprecedented house price increases and how OSFI implemented the Minimum Qualifying Rate (MQR) in 2018 to test borrowers' ability to manage higher mortgage payments in the event of adverse financial shocks.

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