Ottawa announces changes to the stress test mortgage rules which they claim will make it easier for buyers to qualify based the adjustment from a static rate to one that is now more fluid. The new bar will be based on the weekly median five-year fixed insured mortgage rate + 2%. Have a read via below 2 links. Maybe this is the break many buyers have been waiting for…maybe not.
https://www.cbc.ca/news/business/mortgage-stress-test-1.5467330
