Question
The Bank of Canada 5-year rate is 5.19 percent, and you are eligible for a rate at a federally regulated lender of 5 years at
The Bank of Canada 5-year rate is 5.19 percent, and you are eligible for a rate at a federally regulated lender of 5 years at 3.49 percent.
What is the rate you must use when trying to qualify for the mortgage?
If the federally regulated lender offers 2.89 percent, what would be the rate used when applying for the stress test now?
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Money Banking And Financial Markets
Authors: Stephen G. Cecchetti
1st Edition
0072452692, 9780072452693
