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Canada s tougher mortgage stress test: How to be ready

Article content This article was created by MoneyWise. Postmedia and MoneyWise may earn an affiliate commission through links on this page. Canada’s federal banking regulator has confirmed that the elevated mortgage “stress test” proposed in April will take effect June 1 for borrowers with uninsured mortgages. We apologize, but this video has failed to load. Try refreshing your browser, or Canada s tougher mortgage stress test: Here s how to be ready Back to video Loan applicants who aren’t required to pay mortgage insurance because they’re making down payments of at least 20 per cent must be able to prove they can afford an interest rate of 5.25 per cent in order for their loans to be approved. That’s regardless of the mortgage rate they’re offered by their lender.

TD Bank flush with cash as second-quarter profit surges 144%

Stocks climb as strong data fuel rotation trade Small caps take the lead in broad stock rotation MoneyTalk: Can I help my kid with their first mortgage? Kevin Burkett s Top Picks: May 26, 2021 Bank of Canada digital currency would be greener than Bitcoin, deputy says Bitcoin bounces off highs as crypto market volatility increases Green bond seller investing in coal shows how tricky ESG can be Canadian banks lean on capital markets with loan growth muted Gordon Reid s Top Picks: May 25, 2021 Tech leads gains in stocks as inflation fears ease Cathie Wood ditched Virgin Galactic stock right before it surged Greg Newman s Top Picks: May 21, 2021

Banks face questions about deploying cash as they ease up on reserve-building

As vaccination efforts expand in Canada and talk of reopening is swirling in many provinces hit hardest by the virus, executives from the country s most prominent banks faced questions from analysts Thursday about what they d do with all the cash they are sitting on. TD Bank Group chief executive Bharat Masrani indicated that acquisitions might be a possibility for his bank. We will not be shy to do a bank deal. It could be in the southeast of the U.S. or any part of our footprint, he told analysts during a Thursday afternoon call. We have said that we would look for asset-generating types of businesses as well.and so we continue to monitor the situation.

Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange
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Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange
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