New Mortgage Rules

October 20, 2016 - Updated: October 20, 2016

New Mortgage Rules

 

New rules raise the bar to qualify for a mortgage

 

New mortgage rules came into effect on Oct 17, 2016.

To put it in simple words, what it means to all of the buyer is, 

the benchmark qualifying rate now will be 4.64% for a five year loan.

However, they can* still get mortgage at 2.44%*.  

For detailes, please contact us or your mortgage broker.


Tagged with: new mortgage rules stress test mortgage bank of canada
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