Are Mortgage Stress Tests Putting the Economy at Risk?

Are Mortgage Stress Tests Putting the Economy at Risk?

For many Canadians in major markets such as Toronto or Vancouver, housing affordability is a hot button issue. In response to escalating house prices and levels of consumer lending, the Government of Canada in 2018 implemented the B-20 stress tests, which required banks to test a borrower’s ability to make mortgage payments at 200 basis points (2%) above their mortgage rate.

While there has been a noticeable slowdown in housing sales, there’s another sector of the lending ecosystem which has benefited greatly from the B-20 stress tests: private mortgage lenders.

According to data from the Bank of Canada in November 2018, private lenders in Toronto have seen an increase in the […] Read more

You Guys Spoke Up About Your Recent Poor Service Experiences!

You Guys Spoke Up About Your Recent Poor Service Experiences!

We asked everybody last week about their poor service experiences and you guys certainly voiced your opinions! Now we’d like to share some of those results with you…

A lot of people are not getting good food service! Restaurants, beverage/coffee shop, & fast food accounted for over a THIRD of all surveyed complaints. Other industries receiving a lot of complaints:

Financial services Grocery stores Big Box Retailers (e.g. Best Buy, Walmart)

Most encounters with poor service are in-person

Top three service complaints are:

Rudeness (53%) Slow service (41%) Product/service did not meet expectations (38%)

Clearly many organizations are not living up to your expectations of service!

We’d like to thank you for your honest feedback. […] Read more