For the first time in five years, the Central Bank of Canada lowered the "examination" rate of stress tests to determine the creditworthiness of candidates for
purchase of an apartment or house. From now on, candidates qualify at a flat rate of 5.19 percent instead of the previous 5.34 with a five-year contract. For example, a buyer who decides to deposit 20 percent of the price of a house and has an income of $50,000 a year will be able to pay $4,000 more for the house than before. According to experts, this will be a micro-stimulus for developers. From January 1, 2018, citizens who have taken out a loan for
buying an apartment in Canada must prove their ability to pay debts at a rate two percent above today's five-year fixed rate. Experts believe that Canada should lower the rate for a stress test and restore the previous maximum terms of mortgage loans - up to 30 years.