Mortgage stress tests cause more harm than good. Here's how to fix them [Globe and Mail, The (Toronto, Canada)]
Cabot Corporation (CBT)
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Source: Globe and Mail, The
But the testing fails to consider an important factor that will determine future outcomes for borrowers: that their incomes will increase. OSFI and CMHC are surely aware of this argument, but they never seem to acknowledge it or respond to it. We are now seeing a real-time and stark – in a positive way – demonstration of the impact of income growth on mortgage outcomes. Interest rates have increased sharply over the past two years. During 2018, a typical rate for the most-used mortgage type (five-year, fixed-rate) was 3.3 per cent. Five years later, in 2023, those mortgages were renewed at a typical rate of 5.5 per cent. Yet the number of Canadians experiencing mortgage difficulties has barely moved. As of December, only a small number of Canadians were behind on their mortgage payments by three or more months. The Canadian Bankers Association puts that rate at 0.18 per cent – less than two out of every 1,000 borrowers. Yes, this is a large proportional rise – 26 per cent – f
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News
- Trudeau's Push to Double Housing Starts in Doubt as Pace Falls [Financial Post (Toronto, Ontario, Canada)]Financial Post
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- Tyson Says Adoption of Some Chicken Antibiotics Is Paying Off [BNN Bloomberg (Canada)]BNN Bloomberg
- Trudeau's Push to Double Housing Starts in Doubt as Pace Falls [BNN Bloomberg (Canada)]BNN Bloomberg
- Are Investors Undervaluing Cabot (CBT) Right Now? [Yahoo! Finance]Yahoo! Finance
CBT
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- 5/6/24 - Beat
CBT
Sec Filings
- 5/15/24 - Form 144
- 5/13/24 - Form 4
- 5/10/24 - Form 144
- CBT's page on the SEC website