Mortgage Stress Test change The Canadian Department of Finance has announced that as of April 6th we will see a change to the current mortgage stress test. what does the upcoming change mean? Currently the mortgage stress test requires insured borrowers to qualify at a rate of 5.19% (Base on 5 year posted rate). The change¬†will have borrowers qualifying at a rate based on the weekly median 5 year fixed rate plus 2%. At present this looks like it would mean qualifying at a lower rate. Waiting game Currently we do not have all the information to truly determine what this will mean for home buyers. At a…