RSS

Stress test removed on uninsured mortgage renewals

Posted on by
Stress test removed on uninsured mortgage renewals

The Minimum Qualifying Rate (MQR) for uninsured mortgages is a stress test to ensure borrowers can handle financial shocks like income loss or rising rates. 🏡 Set by OSFI, it protects both lenders and Canada’s financial system. 💪 Current MQR: 5.25% floor + 2% buffer. Stay informed & stress-test smart!

Thinking of buying or refinancing? 🏡 Let's navigate the mortgage process together and find the best solution for your needs. Whether you're a first-time buyer or looking to upgrade, I’m here to help you stress less and plan smart. DM me to get started! 💬📞

Gary "Mr. Action" Fayerman
Mobile: (403) 620-2800
Email: mraction@telus.net

Comments:

No comments

Post Your Comment:

Your email will not be published
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.