Requirements for homebuyers ease after stress test rate falls

Author: External Author | | Categories: CHIP Reverse Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Equity Mortgage , Home Loan Mortgage , Mortgage Pre Approval , Mortgage Professional , Mortgage Renewal , Mortgage Services , Mortgage Specialist , Refinance Mortgage , Residential Mortgages , Self Employed Mortgage

Blog by Raj Gera - Dominion Lending Centres

An easing of the mortgage stress test means it just got a little easier to get a foot into Canada’s housing market.

The Bank of Canada’s 5-year conventional mortgage rate fell from 4.94 per cent to 4.79 per cent. The rate is based on posted 5-year fixed rates at banks, which have been cutting over the past week. Most recently, National Bank cut by 15 basis points on Monday.

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Original Article Source Credits: Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By: Jessy Bains

Original Article Posted on: August 13, 2020

Link to Original Article:  https://ca.finance.yahoo.com/news/mortgage-rules-requirements-for-homebuyers-ease-after-stress-test-rate-falls-192343184.html



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