Calgarypuck Forums - The Unofficial Calgary Flames Fan Community
Old 03-15-2020, 07:56 AM   #1
Mortgage Made Easy
Scoring Winger
Mortgage Made Easy's Avatar
Join Date: Sep 2014
Location: Calgary, AB
Default The New Mortgage Stress Test Gets Pushed Back - DELAYED

The New Stress Test Gets Pushed Back - ANNOUNCED Friday March 13, 2020

The easier mortgage stress test that was supposed to start on April 6 will now be delayed indefinitely, says our banking regulator. “OSFI is suspending all of its consultations and policy development on new or revised guidance until conditions stabilize,” it said.

The federal government had planned to change the formula for the benchmark qualifying rate, which would have reduced the stress test from today’s rate of 5.19% to 4.89%.

That means the current minimum qualifying rate—which equals the typical Big 6 bank’s 5-year posted rate—will temporarily remain in force.

This news applies to all default-insured and uninsured mortgages.

--- Posted Rate --- Meaning...
* Today is 5.19%
Is a lender's advertised mortgage rate, typically an undiscounted rate. Posted rates are used mainly for:
  • penalty calculations
  • cashback mortgage calculations
  • determining rate reductions for borrowers who are already approved, in the case where rates are falling.
Tim Lacroix | 403-648-1541
Mortgage. Made Easy Experts
Mortgage Connect

If you have any questions please feel free to PM me or email

Click here to View current Mortgage Rates

Last edited by Mortgage Made Easy; 03-15-2020 at 08:01 AM.
Mortgage Made Easy is offline   Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT -6. The time now is 10:48 AM.

Calgary Flames

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Copyright Calgarypuck 2021