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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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The Mortgage Stress Test Has Already Increased for Some Borrowers

3/22/2022

THINK OUTSIDE THE BOX:  Both insured and uninsured mortgage borrowers are qualified based on the contract rate plus 2%, or 5.25%, whichever is higher. For a growing number of borrowers, that rate is now going to be higher than 5.25%, which negatively impacts borrower debt service ratios, and perhaps their purchasing power as well.  Click here to read more.

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