”The measure has proven a necessary one to protect borrowers from rate impact, argues leading executive.”

” As a whole, and considering what’s happened in the past few years, I’m certain that most people could say they’re grateful that we did have prudent underwriting parameters in place, that we didn’t completely damage the real estate market considering what we’re going through right now with rising interest rates and inflation”

”Regulators would watch the trajectory of the market closely before deciding whether to introduce rule changes on the stress test – although she said they seemed more likely than not in the long term, especially because of the current discrepancy between qualifying rules for fixed and variable mortgages.”

”There haven’t been any changes yet to the stress test because the regulators and the government are just watching to see what happens with the housing market right now, between inflation, rising interest rates and the bond yields rising,”

Read the full article published on the Canadian Mortgage Professional written by Fergal McAlinden

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