What You Need to Know: Changes to Canada's Mortgage Stress Test
Feb 25, 2020
Written by
Ryan BerlinSHARE THIS
Effective 6 April 2020, the federal government is changing the stress test for insured mortgages. The new minimum qualifying rate will be the weekly median five-year fixed contract mortgage rate plus 200 basis points, increasing buying power by 2.7% for impacted borrowers. Our rennie intelligence team comprises our in-house demographer, senior economist, and market analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.
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