Revisiting the "Mortgage Stress Test"

The Toronto Star has a great article today suggesting that it may be time for Ottawa to revisit the year-old Mortgage Stress Test. The Mortgage Professionals of Canada group released their own report, indicating how the current structure of the stress-test does not accurately reflect Canadians buying-power, nor does it take into account the decreasing primary mortgage amount, as payments occur over the life of the mortgage.

We have all seen the tremendous impact these rules have had - not only on first-time Buyers, but on many current homeowners looking for end of term renewals.

Read the full article here: Revisiting Mortgage Stress Test rules.