Federal government proposed to introduce a stress test for all uninsured mortgages, meaning lower-risk borrowers would have to be approved at 2% above the rate offered to them by their lender. If implemented, this plan can put affordability at risk, as it could reduce the home buying power of consumers by up to 20%.What Can You Do?
Call Your MP! Ask him to help!
As a Canadian, add your voice to the conversation to ensure the federal government is listening to you.
Take the Action now! Time is running out.
For more information on the new proposed mortgage measures, visit the Office of the Superintendent of Financial Institutions’ website.