June 2021

New stress test for mortgages comes into effect today.

Posted on Jun 01, 2021

It's a bit harder to qualify for home loan as of today as the government has raised the minimum financial bar that anyone applying for a mortgage must meet. Ottawa raised the level of the so-called "stress test" for mortgages today, setting the new level at 5.25 per cent — or two full percentage points above the borrower's mortgage rate, whichever...

Read More