It was the second time The Bank reduced the qualifying rate in the last three months, the most recent in May when the rate changed from 5.04 percent to 4.94 percent.
Mortgage qualifying rate remains below five percent
“Over the last few years, rule changes have made it harder for Canadians to qualify, so the recent reductions in the benchmark qualifying rate is welcome news for first-time home buyers hoping to enter the housing market,” says James Laird, co-founder of Ratehub.ca and president of CanWise Finan…
