This past week we received word that the government will be rolling out the next phase of “stress test”. These changes to the qualification requirements are designed to make sure all borrowers are well qualified for the mortgages they are getting. This will have impact of varying degrees to borrowers. As of today the current stress test only affects borrowers obtaining an insured mortgage. Generally that includes borrowers with less than 20% available for down payment. Presently these borrowers have to qualify at a payment based on the qualifying rate which is 4.89% at this time. As of January 1, 2018 the latest addition to the stress test…