CMHC defends mortgage stress test changes amid calls for loosening rules – Ladysmith Chronicle

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CMHC defends mortgage stress test changes amid calls for loosening rules – Ladysmith Chronicle 2 Things You Need to Know to Properly Price Your Home 2447 Aristocracy Cir, Lexington, KY 40509 | Zillow

– CMHC CEO defends mortgage stress test changes amid calls for loosening rules imf warns easing Canada’s housing rules would be ‘ill-advised’ Vancouver’s dirty money figures: The smoking gun that wasn’t

What that means is that even if you get a mortgage rate of 2.94%, the new stress test requires that you qualify for a mortgage of 5.14% – even though you’ll still be paying the contracted 2.94%. For most, that will mean qualifying for a home that costs 20% less than they would have prior to the new stress test rule.

The province announced it is adding 600 more camping spots to its most popular BC Parks. Tourism Minister Lisa Beare, MLA for pitt meadows-maple ridge, along with Environment Minister George Heyman made the announcement at the popular golden ears provincial Park in Maple Ridge on Thursday.

– One of these is choosing between a fixed- or variable-interest-rate mortgage. True to its name, fixed-rate mortgage interest is fixed throughout the life of the loan. In contrast, the interest rate on a variable-interest-rate loan can change over time.

HOUSTON – Tropical Storm Harvey sent devastating floods pouring into the nation’s fourth-largest city Sunday as rising water chased thousands of people to rooftops or higher ground and overwhelmed.

In this episode, we talk with Mujtaba Syed, Manager – Mobile Mortgage Specialist with TD Canada Trust, and review the new rules, explain what the stress test is and how impacts future homeowners.

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