Latest in Mortgage News: Stress Test Rate to Drop

Author: External Author | May 27, 2020 | Categories: Debt Consolidation , First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Calculator , Mortgage Rates , Private Equity Investors , Private Mortgage Lending , Refinance Mortgage , Reverse Mortgage , Royal Canadian Legion , Self Employed Mortgage

Thanks to a reduction in some Big-Bank posted rates in recent days, Canada’s mortgage stress test rate will fall as early as next week.Both RBC and BMO cut a number of their posted mortgage rates this week, which should cause the mortgage stress test to fall from 5.04% to 4.99%, according to RateSpy.com.

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Original Article SourceCredits: canadian mortgage trends, https://www.canadianmortgagetrends.com/

Article Written By Steve Huebl

Original Article Posted on : May 15, 2020

Link to Original Article: https://www.canadianmortgagetrends.com/2020/05/latest-in-mortgage-news-stress-test-rate-to-drop/