Coping with the new “stress test”

With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are “stress-test ready”. The following is a guide and best practices tool kit for those about to embark on Read more about Coping with the new “stress test”[…]

More changes coming! still qualify for a mortgage?

Our federal government is once again trying to control the Canadian mortgage market. Effective January 1st, 2018, watch for the following changes for the qualifications of mortgages in Canada. Another “stress test” condition will be facing consumers for all mortgages from the prime lenders. Currently the new rules only apply to high ratio mortgages(20% or Read more about More changes coming! still qualify for a mortgage?[…]