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Mortgage stress test needs a rethink: industry group

Does the mortgage stress test need a rethink? The test is one of the federal government’s efforts to control a spiralling housing market and keep home buyers from getting dangerously deep in debt as interest rates rise, but the industry group Mortgage Professionals Canada (MPC) says the test is barking up the wrong tree. That because MPC believes mortgage default is linked to job loss, not interest rate increases. Full story

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