Bank of Canada maintains the policy rate at 2¼%

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

Our take: Live BoC release. Read the primary source before changing offer discipline or leverage assumptions.

In your underwriting: Re-check DSCR and stress payment against the current BoC 5-year mortgage series before waiving financing.