Here’s what increase in stress test means for the market

Vancouver, Toronto, Calgary

2022/07/29

The mortgage stress test in Canada has ↑ after a recent interest rate hike. The annual income needed to buy a home across Canada ↑, even in places where housing prices ↓.From March to June 2022, Canadian homebuyers had to earn from $8.6K to $35.7K more annually, to afford a home depending on their location. The stress test rate could be as high as 7.21% in the current market.