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Stress test survives but fixes have flaws

March 28, 2019

Despite intense lobbying from the real estate and residential construction industry, the federal government retained the mortgage stress test when it presented the federal budget.
Instead of ending the requirement that all buyers must qualify for higher mortgage rates than the rates that are widely available, the Finance Minister opted for two different approaches:

According to mortgage brokers and real estate agents contacted by Home
BUILDER magazine, both new programs have some serious flaws:

 

 

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