New regulations are set to increase the capital requirements for Canada’s largest mortgage lenders. The Office of the Superintendent of Financial Institutions Canada (OSFI) has announced a public consultation on proposals to “ensure that capital requirements remain prudent in periods where house prices are high relative to household income and/or house prices are increasing rapidly in nominal terms.”

The new rules, due in the fall, are part of the changes OSFI announced in December 2015 which it says “provide a measured and forward looking response to the changing risks occurring in the Canadian mortgage market.”

It is uncertain to what degree the changes would affect mortgage rates from the 7 largest mortgage lenders.

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