The Fed Douses the Hot Toronto Condo Market With Warm Water . . .
Posted on October 18, 2016(excerpted from cbc.ca Oct 5/2016) “As of Oct. 17, more mortgage applications will undergo a “stress test” to evaluate a borrower’s ability to make mortgage payments at a higher interest rate. The requirement was already in place for some types of mortgages. It will now apply to all insured mortgages, including fixed-rate ones with terms of… Read more
