Canada’s mortgage stress tests just got reduced!

Hello everyone and welcome back to my page. So if you haven't already heard or saw the news yes your eyes are not deceiving you one bit! The powers to be have reduced the stress test qualifying rate which had been locked in at 5.34% to the new rate of 5.19%. Just to refresh your mind the stress test applies to those who are purchasing a home with less than 20% down towards their purchase. 

 

For more information on this and to read more about it you can click here for the full news article 

 

Thank you for stopping by. 

 

-Shawn Bhatt
Century 21 Coastal Realty