Bank regulator pitches higher mortgage stress test level, making it harder to qualify for a home loan | CBC News
Canada's top banking regulator is proposing to raise the mortgage stress test level to 5.25 per cent or two percentage points above the market rate, whichever is higher, making it harder to qualify for a home loan, shrinking the pool of qualified borrowers and ultimately bringing down house prices.
Original Article Source Credits: CBC, https://www.cbc.ca
Article Written By: Pete Evans
Original Article Posted on: Apr 08, 2021
Link to Original Article: https://www.cbc.ca/news/business/osfi-mortgage-stress-test-rules-1.5979558