The mortgage stress test for borrowers renewing their mortgage is gone. After years of push back OSFI has decided to scrap it for people wanting to switch lenders. This will save borrowers some money at renewal. Mortgage rates are coming down and markets are now starting to price in a 50bps cut from the Bank of Canada next month. New listings are still growing and prices are coming down.
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No More Mortgage Stress Test for Renewals
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Steve SaretskyCanadian Real EstateCanada Real EstateCanada Real Estate MarketCanada Real Estate Market UpdateVancouver Real EstateVancouver Real Estate MarketCanada Housing Marketcanadian mortgage crisisBank of Canadacanada interest ratesCanada Home SalesCanada Housing CrisisCanadian Housing CrisisCMHCCMHC CanadaCanada OSFIReal EstateOSFIMortgage Stress TestMortgage Stress CanadaCanadian Mortgage StressCanadian Mortgage Stress Test
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