CMHC defends mortgage stress test changes amid calls for loosening rules

CMHC CEO defends mortgage stress test changes amid calls for loosening rules By By Aleksandra Sagan – THE CANADIAN PRESS Last updated May 24, 2019 The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy-makers to hold the line amid calls for softening the measure from industry associations.

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 · The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy-makers to hold the line amid calls for softening the measure from . . .. cmhc defends mortgage stress test changes amid calls for loosening rules.

On October 3, 2016, Canada’s Finance Minister announced the latest round of mortgage rule tightening: a more stringent mortgage stress test for borrowers looking to get a new mortgage. What that means is that even if you get a mortgage rate of 2.89%, the new stress test requires that you qualify for a mortgage of 5.34% – even though you’ll still be paying the contracted 2.89%.

[CTV – May 23, 2019] The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy-makers to hold the line amid calls for softening the measure from industry associations. "My job is to advise you against this reckless myopia and protect our economy from potentially tragic consequences," [.]

CMHC defends mortgage stress test changes amid calls for loosening rules – North Delta Reporter Ottawa police say information received from the montreal force monday evening prompted officers to check on the residents of a home in the city. The Ottawa Citizen says Dave Rogers was a reporter with.

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CMHC defends mortgage stress test changes amid calls for loosening rules. Uninsured borrowers must now show they could service their mortgage if rates rose two per cent The Canadian Press; May. 23, 2019 2:40 p.m. News

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 · The Canada Mortgage and Housing Corporation is defending the mortgage stress test amid calls for the measure to be changed. President Evan Siddall says in a letter to the Standing Committee on Finance that the new measure is working as intended to lower house prices and protect Canadians from borrowing too much money.