Since the beginning of 2021 house prices have been rising exponentially. In June, a Canadian Real Estate Association report indicated that the average selling price of a home in Canada had fallen for the second consecutive month. In the next two months with...
Aidan
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Changes to Stress Test – June 1st Onwards
Recently, there has been approved changes to the stress test released by the government that come into effect on June 1st. The Bank of Canada benchmark qualifying rate will increase from 4.79% to 5.25%. The changes will be for all mortgages. This includes; Insured...
Proposed Changes to the Stress Test
Recently, there have been proposed changes to the stress test released by the government that would come into effect on June 1st. If the changes go into effect, the Bank of Canada benchmark qualifying rate will increase to 5.25%. If the changes go into effect, it...