Homeownership is slipping out of reach for more and more Canadian homebuyers. And the reason is simple. The new mortgage stress test. At the start of 2018, the Federal government implemented a new stress test to ensure home buyers could …
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Mortgage Stress Test Behind $15-Billion Drop in New Canadian Mortgages
The Federal government implemented a large number of strict lending rules in an effort, it said, to ensure the housing market remained stable. In addition to reducing the amortization period and eliminating down payments of zero, they also introduced a …