Blog about Vancouver Real Estate Market

New 2018 Mortgage Rule “Stress Test”

The new mortgage rule comes into effect January 1st, 2018; it affects purchasers with over 20 percent down. The term Stress Test checks buyer’s ability to withstand future interest rate hikes. For example, a buyer is seeking pre-approval at a current 5-year rate at 3.09 percent; they will have to be approved at a 2 percent increase […]