New Mortgage stress test: Starting June 1.
Under the new requirements, all mortgage applicants must be able to afford their mortgage at an interest rate of 5.25 per cent or two per cent over the contract rate, whichever is higher, regardless of their down payment.
Vancouver, BC – August 13, 2019. The British Columbia Real Estate Association (BCREA) reports that an increase of 12.4 per cent from July last year. https://t.co/HWHtMkTLnK