Household lending conditions eased in Q2

The latest Senior Loan Officer Survey from the Bank of Canada shows how lending conditions have changed in the second quarter of 2018.

The new mortgage rules introduced at the start of the year continue to impact mortgage approval rates for low-ratio mortgages while the changes to regulations introduced at the end of 2016 are still impacting high-ratio loans.

The report shows that for the remaining pool of qualifying borrowers, lenders eased pricing conditions for both low and high ratio mortgages while non-price lending conditions remained unchanged.

The survey points to a tightening of mortgage lending conditions in the third quarter.

There were few changes for conditions in non-mortgage lending and demand for non-mortgage borrowing was unchanged.