The change isn't a game-changer, says economist Benjamin Tal
Economist Benjamin Tal says the test is “suboptimal”
The federal mortgage stress test is based on the posted rates at the big Canadian banks
Mortgage growth was down but remained above average
The current legislation supports a five-year term
But the sector’s growth in Canada has still outpaced traditional banking
The deceleration was led by slower growth in mortgage borrowing
Advisors can help clients worried about home ownership
A CIBC report examines household debt and the lessons for monetary policy
The rating agency also said home prices in Toronto and Vancouver remain “vulnerable to shocks”