Mortgage Stress Test Under Review
Going into the Holiday Season I wanted to share some news worthy info and shed some perspective.
Recently, Justin Trudeau has mandated the Minister of Finance, Bill Morneau, to review the mortgage stress test. This is positive news as the mortgage industry has strongly advocated on behalf of potential adjustments and reviews since inception. Our government has a responsibility to make informed decisions and this review will certainly help provide a better understanding of the impacts. They will also be taking suggestions from our stakeholders and industry members.
An impact of news like this is that purchasers often decide to postpone their home search in light of potential outcomes that may be favourable for them.
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