Mortgage

Are the new mortgage rules requiring a “stress test” a good idea?

The Federal government announced new mortgage rules in October for buyers making a down payment of less than 20% of the property purchase price.  These are known as “high-ratio” mortgages.  Simply put, these mortgages are riskier for both the lender and borrower if things go sideways.  Buyers with high-ratio mortgages are required to pay an …

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