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First-Time Buyers Beware!

First-Time Buyers Beware!

If you’re a first-time homebuyer hoping to live in the big city, beware the government’s new borrower “stress test.” It could relegate you to the ’burbs. The new rule requires all insured borrowers to prove they can afford a payment at the posted five-year fixed rate (which is currently 4.64 per cent). That could kill […]