How the new mortgage 'stress test' will affect homebuyers

Author: External Author | | Categories: Mortgage Broker , Mortgage Industry , Mortgage Refinance

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In an attempt to try and cool down the overheated housing market, the federal government is making it tougher to get a mortgage starting June 1. The new stress test was announced by the Office of the Superintendent of Financial Institutions on May 20.

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Original Article Source Credits: CTV News, https://www.ctvnews.ca/

Article Written By: Tom Yun 

Original Article Posted on: 1st June 2021

Link to Original Article: https://www.ctvnews.ca/business/how-the-new-mortgage-stress-test-will-affect-homebuyers-1.5451606



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