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Alberta
Garth Lyon Senior Mortgage Professional

Garth Lyon

Senior Mortgage Professional


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Address:
103, 901-8 Avenue, Canmore, Alberta

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BREAKING: Insured and Uninsured Mortgage Qualification Stress Test Changing

5/21/2021

THINK OUTSIDE THE BOX:  Yesterday afternoon, at approximately 1pm, 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% interest rate or the contract rate plus 2%. You can read the formal announcement here

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