Changes to the final guideline include the following adjustment to the minimum qualifying test: “At a minimum, the qualifying rate for all uninsured mortgages should be the greater of the contractual mortgage rate plus 2% or the five-year benchmark rate published by the Bank of Canada.”
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Changes to the final guideline include the following adjustment to the minimum qualifying test: “At a minimum, the qualifying rate for all uninsured mortgages should be the greater of the contractual mortgage rate plus 2% or the five-year benchmark rate published by the Bank of Canada.”