New and Improved Stress Test!

New and Improved Stress Test!

The Department of Finance announced Tuesday changes to the mortgage stress test. “The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%.” This change is specific to insured...
PM Orders Review of Stress Test

PM Orders Review of Stress Test

If you’ve been having a hard time getting approved for a mortgage since the stress test was introduced in 2018, you aren’t alone. In fact, about 10% of buyers who would have been approved for a mortgage before the stress test find that they can no longer...
Signs Alberta Economy Headed to Recovery

Signs Alberta Economy Headed to Recovery

If you’re like most Albertans you’ve probably been feeling pretty pessimistic about our economy for the last few years. Thousands of people in the oil field have lost their jobs, the cost of gas has been attached to a yo-yo, and small business owners have...
Global Uncertainty On the Horizon

Global Uncertainty On the Horizon

In May it was pretty certain that the Bank of Canada would not be making any changes to the overnight rate any time soon and the same remains true this month after their recent announcement. In fact, economists are projecting that it may be 2021 before we see rates...