Interest Rate Hike in Canada
Did you know....As of Jan 1st - the Gov't has forced on ALL lenders/banks in Canada - when approving a Borrower, they must pass a stress test at a Higher Int Rate (2% higher than approved) before getting the $$. Essentially means - the amount you can borrow will drop 15-19%. Another way the Gov't is trying to control our Economy and housing...Socializing Business! ;(