January 1, 2020 marked the two year anniversary since the mortgage stress test came into effect. If you’re planning to get a mortgage or renew or refinance your mortgage in 2020, you’ll want at least a basic understanding of the stress test and how it impacts you.
The stress test has certainly had an impact on the real estate market.The B.C. Real Estate Association released a report last year suggesting that home sales in the province would have been 10 percent higher without the stress test.