Mortgage stress tests impacting many buyers: report

Mortgage stress tests mean 18 per cent of Canadians are unable to buy their preferred home even though they can actually afford it, according to a new report. Mortgage Professionals Canada estimates that about 100,000 Canadians have been unable to purchase the home they wanted since late 2016, when tougher mortgage qualification rules first kicked in that require buyers to be able to afford their home even if interest rates become substantially higher than what they negotiated. Full story


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