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• David 2018-09-19 4:10:28 PM Why single out the stress test as not having any meaning at transfer/switch. Why not argue for no underwriting at all, including no new bureau score etc... To single out the stress test as not having any meaning on a switch has not basis and is self servicing. The stress test doesn't apply on a renewal. Sure the person who just happens to have a very high debt service ratio at renewal might have to stay. but that is also the case if their bureau score has fallen, or their income has fallen, etc.. This argument is baseless. You either underwrite a loan fully or you don't, and debt service ratios and their associated stress test are part of good underwriting.

• Carol 2018-09-19 2:39:14 PM The mortgage debt Canadians are carrying is not the problem. Credit card debt is our problem. The interest rates on credit cards are so high that we can't get our credit cards paid off. . . and that debt load affects our qualifuing for mortgages. The federal government has the power to control credit card interest rates so why don't they step in and manage that segment of our economy? A couple of suggestions: Set a maximun interest rate that is a few percentage points above the bank rate. Give Canadian citizens a set number of years of amnesty or interest rate forgivness on their current balances. . . with restrictions on further borrowing. You think of something! Good luck to all of us.

• Jim Brown 2018-09-19 12:56:45 PM Why not just amend the stress test to just simply use the Benchmark rate for all terms (HR and Conv)and for purchases and refinances only. It makes no sense to stress test transfer/switches since those loans already have a repayment history, have been previously approved on inception and there is no increase to the loan amount. All lenders, especially banks are taking advantage of this situation to increase their interest rate margins on renewing mortgages to help offset the reduction in mortgage loan growth.

• Sofia 2018-09-19 9:55:51 AM If the Government of Canada wanted to reduce the price of the houses ….The B20 – stress test should apply just for houses over one million…and let the Millennials and middle class people to afford to buy a house. Rising interest rates and the B20 - stress test*, introduced by Government of Canada in January 2018 will get the people of Ontario struggle more and more to afford mortgage payments and a place to live!

• A concerned appraiser 2018-09-14 6:41:24 PM Agreed! Appraisal management companies have killed the residential appraisal market.