How will the new mortgage stress test rules impact Metro Vancouver real estate?

Posted on Jul 14, 2021 in Blogs

The Office of the Superintendent of Financial Institutions (OSFI) and the Minister of Finance, Canada’s banking regulators, tightened the rules around the mortgage stress test on June 1.

Under the new requirements, all mortgage applicants must be able to afford their mortgage at an interest rate of 5.25 per cent or two per cent over the contract rat...

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