29 August 2013

Qualifying Rate increase – why should you care?
As you know, variable rate mortgages or fixed loans with terms under 5 years usually require qualification at a higher rate, also known as the mortgage qualifying rate (MQR).
For instance, if you want to get a 2.45%, 5-year variable mortgage, you’ll still have to qualify at the bank’s posted 5-year rate (e.g. 5.14%)…
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