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Canada’s mortgage ‘stress test’ level falls for 3rd time since pandemic began

From a recent CBC article.

The bar at which the finances of Canadian mortgage borrowers gets tested has been lowered again, making it easier for would-be homebuyers to reach. In 2017, a stress test was designed during a hot real estate market, to ensure borrowers would be able to pay back their loans if rates rose suddenly. However, the pandemic and historically low-interest rates that are showing no hint at rising have resulted in changes that are making it a little easier for borrowers.

Read more here.