TUG OF WAR
The following is an excerpt from the VERICO Economic Report written by Michael Campbell In the tug of war between affordability and protecting the banks, as the new stress test rules remind us, the government has come down clearly on the side of the banks. Remember the good old days when only insured mortgages were subject to the stress test – as you know, now it’s everybody. Effective January 1st, 2018, everyone will be subject to the new rule that dictates that anyone apply