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Resources Key Factors Mortgage Rates

Factors which effects mortgage rates and approvals are the following:

  • Canada Mortgage and Housing Corporation Act: The act text can be found here.
  • CMHC—Canada Mortgage and Housing Corporation. CMHC is serving since 1946.
  • Canada Deposit Insurance Corporation (CDIC). CDIC is one of the reasons we don't see much over 5 years mortgages.
  • Office of the Superintendent of Financial Institutions (OSFI). OSFI was created through the merger of its two predecessor agencies – the Department of Insurance (DOI) and the Office of the Inspector General of Banks (OIGB).
  • Mortgage eligibility requirements as implemented in 2010.
  • Bank Of Canada overnight target lending rate and Prime business rate. Go here.

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