Mortgage Stress Test Update July 2019. Mortgage Buyer Video Coldwell Banker July 2016
Mortgage Stress Test Update July 2019 video duration 1 Minute(s) 12 Second(s), published by Mister Sauga Real Estate on 31 07 2019 - 19:00:04.
If you watched our video on the Mortgage Stress Test, you'd know that in order to make sure that people could afford their mortgages over any market increases,
. July Video Newsletter 2016
If you watched our video on the Mortgage Stress Test, you’d know that in order to make sure that people could afford their mortgages over any market increases, the government implemented what they call a stress test in 2018.
The stress test requires buyers to qualify at the central bank’s benchmark 5 year mortgage rate, or 2 percentage points higher than their contract rate.
The central bank’s benchmark rate was 5.34 prior to july 17th 2019, but it’s since dropped to 5.14. It’s the first decrease in the five year fixed mortgage rate since 2016.
It’s not much, but maybe it’ll make a difference to you guys, and economists say it will help counter the slowest lending growth in 5 years.
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Other Video about Mortgage Stress Test Update July 2019:
Mortgages and Interest Rates
July Video Newsletter 2016.
Mortgage Buyer Video Coldwell Banker July 2016
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