Latest in Mortgage News: Stress Test Rate to Drop
Thanks to a reduction in some Big-Bank posted rates in recent days, Canada’s mortgage stress test rate will fall as early as next week.Both RBC and BMO cut a number of their posted mortgage rates this week, which should cause the mortgage stress test to fall from 5.04% to 4.99%, according to RateSpy.com.
Original Article Source Credits: canadianmortgagetrends, https://www.canadianmortgagetrends.com/
Article Written By Steve Huebl
Original Article Posted on : May 15, 2020
Link to Original Article: https://www.canadianmortgagetrends.com/2020/05/latest-in-mortgage-news-stress-test-rate-to-drop/