Bank of Canada Reduces Benchmark Qualifying Rate Effective May 25, 2020
The Bank of Canada today reduced the Benchmark Qualifying Rate (aka Stress Test Rate) to 4.94%, down from 5.04%, effective May 25, 2020.
For more information you can visit the Bank of Canada website, and you can check the latest mortgage rates here.
Gordon McCallum
President of First Foundation Residential Mortgages and First Foundation Insurance. Live in Edmonton but cheer for the Riders. I have lots of kids. Follow me on Twitter @gordmccallum
President of First Foundation Residential Mortgages and First Foundation Insurance. Live in Edmonton but cheer for the Riders. I have lots of kids. Follow me on Twitter @gordmccallum