FAKE NEWS on Mortgage Stress Test / Private Lender Stress Test / UNSUBSTANTIATED
Will STRESS TEST be applied to Private Lenders? On January 25, 2019, a number of media outlets picked up a story published by Reuters that opened with: “Canada is considering subjecting private lenders to the same mortgage stress test rules faced by banks to prevent housing markets from being destabilized by the lenders' rapid growth, three sources with direct knowledge of the matter said.” Having said that, it appears to be unsubstantiated. It could be referred to as Fake News since there is no credible source for this information. Finance Minister, Bill Morneau told reporters in Ottawa: “I'm Not currently considering any stress test on private mortgage lenders.”
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