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What Is the Mortgage Stress Test and How Does it Affect Canadian Homebuyers?

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Canada's Office of the Superintendent of Financial Institutions (OSFI) introduced a "mortgage stress test" that went into effect in January 2018. The test is meant to prevent homebuyers across the country from getting into financial trouble. The mortgage stress test may have outlived its usefulness, however. Some industry experts say it is preventing up to 10 percent of homebuyers from ... Continue reading »