Effective July 22, 2019, the Bank of Canada 5-year Benchmark Qualifying Rate is being reduced down to 5.19% (from the current 5.34%) so this is great news for those shopping with less than 20% downpayment! (really, it means that you’ll either qualify for more shopping budget, or you can carry “a little more debt” and worry less about qualifying for and insured mortgage. It’s about time we got some good news (and it goes along with rates coming back down to “great rate!” levels) Give EasyApproval.ca a call and let’s see what we can do for YOU.