Is your mortgage coming up for renewal soon? If so, this is blog for you. Earlier in the year, Canada's banking regulator, OSFI, made an announcement that they were going to remove the stress test qualifications for all insured mortgages coming up for renewal. The purpose behind this was to help increase competition for homeowners so that they are not locked into their existing lender and can shop around with their mortgage broker to find a better interest rate. This is great news for anybody who is looking to shop around and get a better interest rate, but only for those…
