What moved this week. Lender policy, rate movement and program changes across our panel, summarised for brokers.
MONDAY, OCTOBER 5, 2026
CIBC and TD raised select three and five year fixed rates last week, joining other lenders that have moved up in recent weeks, and some variable offers now sit more than a full percentage point below comparable fixed rates. One broker quoted by Canadian Mortgage Trends estimates more than 60 percent of borrowers are now choosing variable. Source. Bond yields eased a little: the Government of Canada five year benchmark went from 3.69 percent on 29 September to 3.62 percent on 1 October. For clients leaning variable, make sure they have seen what a rate increase would do to their payment, and keep holds current for anyone who wants fixed. Source.
In a speech in Victoria on 1 October, Senior Deputy Governor Carolyn Rogers said using interest rates to target house prices would ask more of monetary policy than it can deliver, and that low, stable inflation is the best help for affordability. With the policy rate at 2.25 percent and headline inflation near 3 percent, traders put the odds of a hike at the 28 October decision at about 40 percent. Run the numbers for your variable rate clients now so a hike is a planned conversation rather than a surprise. Source.
On 2 October FSRA announced it is proposing to revoke the licences of two brokerages, including Platinum Mortgages Inc., refuse to renew two mortgage broker licences, and impose a $50,000 penalty on one broker. The allegations include obstructing FSRA's investigation, failing to provide proof of errors and omissions insurance, missing annual information returns and failing to ensure mortgage suitability; the parties have asked for a hearing before the Financial Services Tribunal, so nothing has been decided yet. Make sure your E&O proof, annual filings and suitability notes are current and easy to produce if the regulator asks. Source.
Equifax puts the national mortgage application fraud rate at 0.20 percent for the second quarter, with Ontario highest at 0.28 percent and Alberta next at 0.19 percent. More than 80 percent of the Ontario applications flagged as fraudulent involved prime and super prime applicants, and the share of Ontario mortgage balances 90 or more days past due reached about 0.40 percent in July. A strong credit score is no substitute for checking income, employment and down payment documents, so verify them on every file. Source.
Greater Vancouver recorded 1,717 home sales in September, down 8.4 percent from a year earlier and 25 percent below the ten year seasonal average, while the composite benchmark price fell 5.5 percent year over year to $1,075,900. Active listings of 16,394 are 24.3 percent above the long term average. Buyers have more choice and more time, so a solid pre approval with a rate hold is a real advantage for your clients right now. Source.
The first two year review of your FINTRAC compliance program is due Sunday 11 October, during the Thanksgiving long weekend, so plan to have it done before the weekend. On 13 October the BC Mortgage Services Act comes into force with three licence levels (mortgage brokerage, mortgage broker and principal broker); the lender licence level does not start that day. At A.I.M.I. Collective the FINTRAC review is handled at head office; BC brokers should confirm their transition education shows as complete before Tuesday. Source. BC guide and FINTRAC guide.
MONDAY, SEPTEMBER 21, 2026
Canada's five year bond yield climbed about 25 basis points in the week to 12 September, and several big banks raised fixed rates by 10 to 20 basis points, with some lenders going further or quietly pulling discretionary discounts. On 18 September the government's 30 year bond auction cleared at 4.201 percent, the highest since July 2007. If you have clients closing in the next four months, get rate holds in place now and recheck any older pre approvals. Source.
The Bank held its policy rate at 2.25 percent on 2 September. The summary of deliberations released on 16 September said that if high energy prices spill into wider inflation, it "could require a monetary policy response". The next decision is 28 October. Variable rate clients will be asking what that means for them, so it is worth having that conversation before they call you. Source.
Equifax's second quarter report puts the national 90 day mortgage delinquency rate at 0.30 percent by balance, up 33.8 percent on a year ago, with Ontario and BC borrowers showing the sharpest rise in severe missed payments on other credit. Clients renewing in the next year are the ones most likely to need options, and the broker who calls first usually keeps the file. Renewal playbook.
One week left. Every RECA licence expires on 30 September, so if your re licensing education is not showing as complete, finish it now. Renewal guide.
The transition education deadline was 22 September. Anyone who missed it can still take the courses, but will not be able to provide mortgage services from 13 October until they are done. What to do if you missed it.
The first two year review of your compliance program is due in under three weeks. At A.I.M.I. Collective this is handled at head office; brokers elsewhere should ask their principal broker who owns it. FINTRAC guide.
MONDAY, SEPTEMBER 7, 2026
Every RECA licence expires on 30 September. If the re licensing education is not showing as complete in your RECA account, do it this week, not on the 29th. Renewal guide.
22 September is the transition deadline set out by BCFSA and 13 October is the day the Act takes effect. Registration becomes licensing and the designated individual role changes. What changes.
Mortgage brokers became reporting entities on 11 October 2024. The first mandatory two year review of your compliance program falls due on 11 October 2026. At A.I.M.I. Collective compliance is handled at head office; brokers elsewhere should ask their principal broker who is doing it. FINTRAC guide.
The Broker Collective private lending matchmaking forum runs in Surrey on 17 September. Capacity 120, registration on the events page.