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Old 05-21-2021, 08:17 AM   #1
Mortgage Made Easy
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Join Date: Sep 2014
Location: Calgary, AB
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Default BREAKING: Insured and Uninsured Mortgage - Stress Test Changing - May 2021

This afternoon, at approximately 1pm (yesterday May 20), the Office of the Superintendent of Financial Institutions announced the result of its consultation regarding the uninsured mortgage stress test found in B20. As of June 1st, uninsured mortgages must qualify at the greater of a 5.25% (up from 4.79%) interest rate or the contract rate plus 2%. You can read the formal announcement HERE.

If you have questions or want to understand the impact to your specific situation, please PM.
__________________
Thanks,
Tim Lacroix | 403-648-1541
Mortgage. Made Easy Experts
Kardia Mortgage Inc
www.TimLacroix.com

If you have any questions please feel free to PM me or email calgarypuck@kardiamortgage.com

Click here to View current Mortgage Rates

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