Get ready for a rate shock adjustment that is expected to accelerate in 2019 The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signalled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years,
It’s January 2018, prospective homebuyers, and you know what that means: The new mortgage stress test is in play. But what you may not know is how much it’s going to impact your homebuying budget. Nor would you be alone: A new study from ReMax estimates that 37 per cent of Canadians aren’t aware of how the changes will
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 need to pass a stress test before they are allowed to take out mortgages from federally regulated institutions such as
