Stress Test Rate to Fall to 4.79%

By External Author |

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The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates.

Mortgage experts say the Bank of Canada will reduce the benchmark qualifying rate—a.k.a., “stress test rate”—from 4.94% to 4.79% this week.

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Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By: Steve Huebl

Original Article Posted on: August 11, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/08/stress-test-rate-to-fall-to-4-79/

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