In this post I will explain how the new rules layed out by the finance minister will affect you. 1. The "Stress Test" This rule will only affect you if you are putting less than a 20% down payment on your purchase. This type of loan is known as a high-ratio mortgage. Previously this rule was already applied on variable rate high-ratio mortgages, but will now affect all high-ratio mortgages, both fixed term and variable. The term "stress test" means that... [read more]