mortgage stress test: Tighter Mortgage Rules Take Effect Oct. 17 for Canadian Homebuyers - 10/07/16 06:45 AM
In a move to ensure that Canadians can still afford their mortgage payments in the event interest rates start to rise, Canada’s Department of Finance has announced tighter new rules for borrowers who are applying for a mortgage.
Bill Morneau, Canada’s Minister of Finance, announced the measures Oct. 3. The government says the changes were developed following consultations with housing experts and provincial and municipal leaders across Canada on the state of Canada’s housing market.
In one of those  changes, a “stress test” that used to be part of only some mortgage applications  will now be required for all applications for insured mortgages.
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Nancy Benson, Award Winning Agent | Buy |Unique Homes| Sell (RE/MAX Hallmark Realty Group, Brokerage)

Nancy Benson

Award Winning Agent | Buy |Unique Homes| Sell

Ottawa, ON

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RE/MAX Hallmark Realty Group, Brokerage

Address: 610 Bronson Avenue, Ottawa, On, K1S 4E6

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