D.Y.Design

STRESS TEST: What the heck?

For those a little confused about the new stress test - read this quick article. It has great concise information about how the "Stress Test" will affect you.

"The Stress Test is basically a “What if?” scenario. Specifically, what would be the shape of a given buyer’s finances if interest rates were to suddenly spike."

If you think the stress test doesn't affect you because you already have your mortgage so you do not need to re-qualify - think again!

There is a good change your current lender will not offer competitive rates because they may ASSUME that you will be unable to qualify else where.

Five things you need to know about Canada's new mortgage rules Crazy high prices are no longer the only thing keeping prospective buyers in B.C. from jumping into the real estate market or trading up for bigger or better pads.As of Monday, all borrowers will n…

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