First news of potential changes from the Feds...
Looks like the Stress Test will be increasing from a qualifying rate of 4.79% to 5.25%, on conventional mortgages only ( >20% equity). The below CBC article says it WILL be in place as of June 1st, but nothing is for certain yet, as OSFI has left it open for consultation as of today.
https://www.cbc.ca/news/business/osf...ules-1.5979558
This won't really move the needle a ton to be honest, so I'm not really sure what they're trying to do here.
Let's allow no limit to unsecured debts at interest rates 6-7 times higher and vehicle loans that require no income confirmation, but really tighten up the qualifying on 2% secured debts. But that's a whole different story...