One of the big questions on everyone’s mind lately seems to be how to plan for the rising costs of living. What is the true economic outlook, where are interest rates headed, and should Canadians brace for impact sooner rather than later?
Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing.
The way Canadians qualify for a mortgage is changing; known as the ‘stress test,’ it may cause more stress as it will be harder to obtain a residential mortgage.
With so much in the news recently on mortgage rates, Ron Lefebvre explains the impacts of what the recent rate cut could mean for Edmonton homeowners, along with other helpful insights on this radio broadcast of The Ryan Jespersen Show on 630 | CHED.
Today, Minister of Finance, Bill Morneau, announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test.”