The stress test "had a very targeted outcome," said Brad Carr, CEO of Toronto-based Mattamy Homes, in an interview with Bloomberg. But in the view of the industry, the stress test has also had some serious unintended consequences. There is evidence that the new mortgage rules hit the wrong places. Some economists worry that the mortgage stress test, combined with rising interest rates, will push the housing market into an all-out downturn. The one thing that could be more "ridiculously dangerous" to Canada's economy than the new mortgage rules would be the lack of them.

Source: Huffington Post December 16, 2018 14:37 UTC