Re/Max Realty Specialists Inc.,
Brokerage Independently Owned & Operated
*Sales Representative

Blog by Krisztina Neglia

New Mortgage Rules- 2018

January 5th, 2018
New Mortgage Rules are now in affect. As of January 1st, 2018, buyers with a down payment of 20 percent or more will also have to qualify at a rate of 2% higher than the mortgage rate they qualified for or the Bank Of Canada's 5 year benchmark rate (currently 4.99%). Whether you are getting, renewing or refinancing a mortgage you must pass this stress test.

The actual mortgage payment will sti ...