Are you feeling stressed by the prospect of a mortgage stress test? New homebuyers face tougher challenges with less purchase power since the introduction of the mortgage stress test. Stojanovski says the stress test may come as a shock to some homeowners who simply want to renew a mortgage. “So, if you stay with your current bank for a renewal, you are off the hook for the stress test,” says Stojoanovski. They are provincially regulated — but not federally — so aren’t required to impose the stress test.

Source: thestar February 19, 2019 11:03 UTC