Finance department says change will allow minimum qualifying rate to be "more representative of rates offered by lenders"
Ratings agency DBRS says the news is "favourable"
The bank reported $1.19 billion of net profit in Q4
New business grew by 16.5%
National house price index increased just 0.5% over the last year
Rate of urban starts increased by 26%
Growth topped expectations
Modest increase follows March's strong results
Ontario saw a 41% dip in starts compared to April
Reduction expected to boost the country’s housing market, increase exports
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