Integrated Mortgage Planners
✕
  • Contact
  • About
  • Media
  • Privacy Policy
  • Blog
  • Rates
  • Mortgage Central
    First Time Home Buyer
    First-time Home Buyers
    Borrower Specific Advice
    Borrower Specific Advice
    The Stress-Test Rate Increases to 5.25% on June 1
    Mortgage Calculators
    The Stress-Test Rate Increases to 5.25% on June 1
    Mortgage Rate Updates
    The Stress-Test Rate Increases to 5.25% on June 1
    Borrower Beware
    The Stress-Test Rate Increases to 5.25% on June 1
    Product Commentary
  • About
  • Apply
The Stress-Test Rate Increases to 5.25% on June 1
(416) 304 0100
The Stress-Test Rate Increases to 5.25% on June 1
Call us
The Stress-Test Rate Increases to 5.25% on June 1
The Stress-Test Rate Increases to 5.25% on June 1
✕
  • Blog
  • Rates
  • Mortgage Central
  • About
  • Apply
  • Blog
  • Rates
  • Mortgage Central
    First Time Home Buyer
    First-time Home Buyers
    Borrower Specific Advice
    Borrower Specific Advice
    The Stress-Test Rate Increases to 5.25% on June 1
    Mortgage Calculators
    The Stress-Test Rate Increases to 5.25% on June 1
    Mortgage Rate Updates
    The Stress-Test Rate Increases to 5.25% on June 1
    Borrower Beware
    The Stress-Test Rate Increases to 5.25% on June 1
    Product Commentary
  • About
  • Apply
The Stress-Test Rate Increases to 5.25% on June 1
(416) 304 0100
The Stress-Test Rate Increases to 5.25% on June 1
The Stress-Test Rate Increases to 5.25% on June 1

The Stress-Test Rate Increases to 5.25% on June 1

  • Home
  • Blog
  • Monday Morning Mortgage Rate Updates
  • The Stress-Test Rate Increases to 5.25% on June 1
US Inflation Spikes to Its Highest Level in More Than a Decade
May 17, 2021
Fixed or Variable? Let the Current Inflation Debate Be Your Guide
May 31, 2021
Last updated on May 25, 2021
Categories
  • Monday Morning Mortgage Rate Updates
Tags
  • Mortgage Rates
  • mortgage advice
  • mortgage rate forecast
  • stress-test rate
  • dave the mortgage broker

Canada mortgage ratesI hope everyone enjoyed the fantastic weather over the long weekend. I did the same, so today’s post will be shorter than normal.

Update on Increase to the Mortgage Stress-Test Rate

On April 8, our banking regulator announced that the stress-test rate used to qualify uninsured mortgages will be raised from 4.79% to 5.25% on June 1, which I wrote about in this recent post.

Last week our federal Department of Finance confirmed that the stress-test rate used to qualify all default-insured mortgages will also increase to 5.25% on June 1.

This change will reduce every borrower’s maximum mortgage amount by just under 5%.

I’ll be back with my usual more comprehensive update next Monday but in the meantime, here are links to some of my most popular recent posts.

All About Inflation

Inflation is the topic of the day, with most market watchers warning that the current recent run-up is a sign it is about to get out of control.

This post explains why I disagree with that view, and this one explains why I believe that the US and Canadian labour markets will continue to hold inflation back.

The Real Reason the Bank of Canada (BoC) Moved up Its Rate-Hike Timetable

I wrote this post immediately after the BoC’s most recent policy-rate announcement, which included the release of its latest Monetary Policy Report.

My post provides highlights from the BoC’s more optimistic forecast and offers my take on the real reason the Bank moved up its rate-hike timetable.

Why the BoC Won’t Raise Before the US Federal Reserve

This post explains why there is almost no chance that the BoC will increase its policy rate ahead of the US Federal Reserve and reminds readers that the Fed is forecasting that its next hike will not occur until sometime in 2024.

Toronto mortgage rates

The Bottom Line: Five-year fixed and variable mortgage rates held steady last week. There are no major economic announcements pending for the week ahead, and mortgage rates should therefore stay range bound over the near term.

I am an independent full-time mortgage broker and industry insider who helps Canadians from coast to coast. If you are purchasing, refinancing or renewing your mortgage, contact me or apply for a Mortgage Check-up to obtain the best available rates and terms.
Share
21

Comments are closed.

Dave the Mortgage Broker
Integrated Mortgage Planners
David Larock - Mortgage Broker
Integrated Mortgage Planners Inc.
DBA: TMG Integrated Mortgage Planners Inc.
FSRA License #12867
2 St. Clair Avenue West, 18th Floor
Toronto, ON M4V 1L5

(416) 304 0100  - Phone
(888) 406 8939 - Toll Free

Contact us
Useful links
  • Contact
  • About
  • Media
  • Privacy Policy

© 2023 Integrated Mortgage Planners Inc.