Canada's mortgage 'stress test' level falls for 3rd time since pandemic began
The bar at which the finances of Canadian mortgage borrowers gets tested has just been lowered, making it easier for would-be home buyers to reach.
Five-year posted mortgage rates at Canada's big banks have inched lower in recent weeks, enough to compel the Bank of Canada to formally lower the average rate they base their calculations on to 4.79 per cent.
Original Article Source Credits: CBC, https://www.cbc.ca/
Article Written By: Pete Evans ·
Original Article Posted on: Aug 13, 2020
Link to Original Article: https://www.cbc.ca/news/business/mortgage-stress-test-1.5684685