Mortgage Intelligence

Oshawa's Mortgage News Desk!

New mortgage regulations from today

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New mortgage regulations announced in the first week of October 2016, will come in to effect from today.

We have been experiencing unprecendented low interest rates for a few years and as precaution the government has introduced a “stress test.” What does this mean:

  • Current interest rates are in the range of  2.34 – 3.99%. All applicants applying for mortgage financing from today will need to qualify at a higher rate, which is also referred to as the benchmark rate of 4.64%.
  • Qualifying at the benchmark rate will safeguard borrowers from financial struggles and deferred mortgage payments, in the event of a future rate increase.
  • This also means that the amount of house a borrower can afford will decrease.

Please contact the team at, if you have any questions or require any clarification.


David Hetti is a full time Mortgage Broker with Mortgage Intelligence (FSCO Lic MO8002434) David is the Director of Operations at Mortgage Intelligence Oshawa and heads a team of full time licensed Mortgage Agents serving all of Ontario. David is also a licensed Insurance Consultant.

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