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The path to homeownership in Canada is getting even steeper.
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Try refreshing your browser, or Canadians face a tougher stress test to get a mortgage. Should you worry? Back to video
Regulators plan to rachet up the country’s dreaded “stress test” qualifying rate for mortgage borrowers. As of June 1, loan applicants regardless of the mortgage rate they’ve been offered by their lender will need to prove they can afford an interest rate of 5.25 per cent before getting approved for funding.
LACKIE: Proposed stress test changes will hurt first-time homebuyers
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LACKIE: Proposed stress test changes will hurt first-time homebuyers
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Low rates leave policymakers with tough choices as pandemic housing boom rages
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