Canadian Banks Begin Circumventing Mortgage Stress Test For High-Income Clients
A new mortgage stress test? Don’t bother me with those peasant details. After Canada’s property bubble attracted global criticism, they announced tighter mortgage lending. On April 8, the Office of the Superintendent of Financial Institutions (OSFI) said they would make the stress test harder. By the following Monday, the first bank launched a pilot mortgage program to increase the maximum mortgage size. They just didn’t do it publicly.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: STEPHEN PUNWASI
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Link to Original Article: https://betterdwelling.com/canadian-banks-begin-circumventing-mortgage-stress-test-for-high-income-clients/