OSFI Pressures Banks as Condo Appraisals Reset

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Canada’s banking watchdog flagged risks in pre-construction condo appraisals potentially breaching 80% loan-to-value mortgage rules.

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Blanket appraisals worked during rising prices but create challenges as condo markets soften.

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Pre-construction condo prices dropped 10–30% from 2022 peaks, increasing valuation risks at closing.

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Regulatory scrutiny encourages stronger valuation practices, supporting more stable mortgage lending decisions.

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Experienced brokers help buyers navigate shifting rules, identify value opportunities, and secure compliant financing.