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Passing the mortgage stress test

Thursday, December 22, 2016 @ 7:00 PM | By Anar Dewshi

On Oct. 17, the federal government introduced new mortgage rules to respond to the effects of low interest rates that have resulted in record-high household debt. The changes will have an impact on the key real estate markets, such as Vancouver and Toronto. However, there is a lot of debate as to the extent of that impact.

One of the key changes is the eligibility for new government-backed insured mortgages. All homebuyers seeking an insured mortgage from federally regulated lenders, regardless of the amount of the...