What The Mortgage Stress Test Means For Homebuyers

The Office of the Superintendent of Financial Institutions (OSFI) has been a popular topic around water coolers these days. Ever since the new mortgage rules were announced, everyone and their mothers have been talking about the new mortgage stress test that came into effect January 1, 2018. Although the new mortgage rules have been discussed a great deal in the media, there remains a lack of clarity about the mortgage rules. Let’s take a closer look at the new mortgage rules and...