Informatie over theredtftm |
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08-28-2020 |
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Under the tension test, every home purchaser who wishes to get a mortgage from any federally controlled lender must go through a test in which the customer's price is evaluated based upon a rate that is not lower than a tension rate set by the Bank of Canada. For high-ratio home loan (loan to worth of more than 80%), which is guaranteed by Canada Home Mortgage and Housing Corporation, the rate is the optimum of the tension test rate and the current target rate.
This tension test has actually decreased the maximum home loan authorized amount for all borrowers in Canada. The stress-test rate regularly increased up until its peak of 5.34% in Might 2018 and it was not changed up until July 2019 in which for the very first time in 3 years it decreased to 5.19%. This decision may show the push-back from the real-estate market along with the introduction of the novice home purchaser incentive program (FTHBI) by the Canadian federal government in the 2019 Canadian federal budget plan. http://novonikschool.ru/user/bitinevy3d |
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