Bank regulator raises Canada’s mortgage stress test level, making it harder to qualify for home loan

mortgage sign

Canada’s top banking regulator is raising the mortgage stress test level to 5.25 per cent or two percentage points above the market rate, whichever is higher, making it harder to qualify for a home loan, shrinking the pool of qualified borrowers and ultimately bringing down house prices.

Leave a Reply

Your email address will not be published. Required fields are marked *