Market Updates

New Mortgage Stress Test (June 1, 2021)

https://youtu.be/O_Pztlwb__IAs you may have heard, there is a new "Stress Test" that will be taking place on June 1, 2021.I had the opportunity to ask Chris Molder, a mortgage broker from Tridac Mortgage, about the changes and how it affects home buyers.The stress test is increased from 4.79% to 5.25% and now affects both insured and uninsured mortgages.So if you need a mortgage of $1,000,000, your...

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