Mortgage Intelligence - Kimberly SinghMORE STRESS TESTING!The Office of the Superintendent ofFinancial Institutions (OSFI) is proposing theintroduction of a new stress test for uninsuredmortgages i.e. with more than 20% down.If implemented, these mortgages will bequalified at 2% higher than the borrower's contract rate. Why? Similar toinsured mortgages which are currently stress tested, the government wantsto make sure homeowners can afford their mortgage if rates rise. This newstress test is still under discussion, so stay tuned for any newguidelines by year end.KIMBERLY SINGH AMPMortgage AgentT 905.864.1 365 C 289.242.6791kimberly@kimberlysingh.cawww.kimberlysingh.caSTACI JAMESMortgage AgentC 905.299.8492staci.james@migroup.cawww.stacijamesmortgages.com( )MORTGAGEINTELLIGENCEBROKERAGE #10428 HO: 877.667.5483
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