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October 19th, 2017

Market Update – Right At Home Broker of Record

NEW MORTGAGE POLICY – EFFECTIVE JAN 1, 2018 Office of the Superintendent of Financial Institutions Canada (OSFI) New rules will take in effect on January 1, 2018. Back in October of 2016, a new stress test was introduced and implemented on all insured mortgages (applicable to all applications with less 20% down payment and some special programs like self-employed borrowers). Since October, all insured mortgages have had to qualify using the Benchmark Rate of Canada’s

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