When retail banks willing lowers mortgage rate on their own..... you know they see some shit coming on the horizon and they are holding shit load of toxic mortgages.
https://www.mortgagebrokernews.ca/ne...te-253122.aspx
Also
https://www.cbc.ca/news/canada/calga...2019-1.4986586
Vancouver is double screwed. Wonder how much Chinese money is going to leave simply to protest the arrest.
The way I see it, foreigners should never qualify for mortgages in Canada. But a lot of the bubble is created by the banks thinking that willing to underwrite anyone (foreign or Canadian) a mortgage with 20% down.