Happy Monday everyone!
As per my usual morning routine over my cup of coffee and reading mortgage & real estate news, I happened to have come across this article that nearly took the words out of my mouth.
https://www.livabl.com/2019/03/3-ways-change-mortgage-stress-test-canadian-homebuyers.html

Amongst agreeing with essentially all points made in this article. The subject of renewals really got me going.
Currently the banks have an unfair advantage over clients who locked in pre-mortgage stress test which in turn are allowing them to get away charging higher rates than necessarily what can be found on the market.
If you’ve made all your payments and have had a god track record over your mortgage period, you should have the option to go to another lender without needing to re-qualify (unless of course you require more money)
I do believe some form of stress test is required to ensure sustainability over the long run but the way we are set up currently is only hindering the market and not giving it enough opportunity to grow.

Today I am offering any referral partner the chance to advertise on our website. Should you be interested please contact Stephen at admin@rmagroup.ca to discuss further.