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The following piece from Global News is a nice summary of the implications of the new mortgage stress test.

https://globalnews.ca/news/4097215/canada-new-mortgage-rules-stress-test-2018/

It is worth pointing out that the accepted GDS and TDS ratios vary based upon a borrower’s credit score.  Typically, people with credit scores above 680 can qualify for ratios of 39% and 44% respectively.

Nonetheless, the article is worth reading if you are in the market and will need a mortgage.