Blog by Linda M Linfoot
March 16th, 2020
Why Rates are Raising
Advice for Mortgage Shoppers -
For those in the market for a new mortgage, and who are leaning towards a variable rate, experts recommend obtaining a rate hold as soon as possible.
“I would say act sooner rather than later. Basically, this is not a time to think,” said Stillman. “Lock it in now and if s ...
March 14th, 2020
Stress Test Changes Being Suspended
Last month’s announced change to Canada’s insured mortgage stress test—which was to take effect April 6—has now been put on hold.
The federal government had planned to change the formula for the benchmark qualifying rate, which would have reduced the stress test from today’s rate of 5.19% to 4.89%.
A similar change for the uninsured mortgage stress test bei ...