OSFI Stress Test Changes

Описание: The Office of the Superintendent of Financial Institutions (OSFI) has proposed rule changes to the mortgage stress test.

The current rule for mortgage approvals is that you must qualify as if the interest rate is 4.79% or your contract rate plus 2%, whichever is higher. The rule changes would raise the stress test rate to 5.25% on mortgages with 20% or more down payment or your contract rate plus 2%, whichever is higher

As a heart-centred team that advocates for fair rules for Canadian homeowners, we want to know how you feel about the proposed changes. Please email any inquires about these rule changes to [email protected] so we can consult with the OSFI and Mortgage Professionals Canada on your behalf