| Informacje o abbotsmq81 |
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01-09-2020 |
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| Dodatkowe informacje o abbotsmq81 |
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Under the tension test, every home buyer who desires to get a home loan from any federally controlled lending institution must go through a test in which the customer's affordability is judged based upon a rate that is not lower than a stress rate set by the Bank of Canada. For high-ratio home mortgage (loan to value of more than 80%), which is guaranteed by Canada Mortgage and Housing Corporation, the rate is the maximum of the stress test rate and the current target rate.
This tension test has actually lowered the optimal home loan authorized quantity for all debtors in Canada. The stress-test rate regularly increased until its peak of 5.34% in May 2018 and it was not changed till July 2019 in which for the very first time in 3 years it reduced to 5.19%. This decision may show the push-back from the real-estate market in addition to the intro of the newbie home purchaser reward program (FTHBI) by the Canadian federal government in the 2019 Canadian federal budget plan. https://www.primary-bookmarks.win/timeshare-relief |
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