OSFI has held off on further tweaks to underwriting rules, but amid speculation that it may soon spring into action, one representative has assured MortgageBrokerNews.ca the public – including brokers – will be allowed their say.

“If we decide to revise Guideline B-20, we will undertake public consultations,” said OSFI’s Annik Faucher. “No decisions have yet been reached.”

In May of this year, OSFI issued a report on the real estate market, wherein it expressed the importance of regulating interest rates.

“As noted by the outgoing Governor of the Bank of Canada, it is important that regulation and supervision be a strong line of defence to some of the consequences of low interest rates,” Superintendent Julie Dickson said in the May address. “Sustained low interest rates are a major area of focus for OSFI.”