Recent changes to the mortgage stress test designed to cool down hot housing markets across the country may make it more difficult for some Albertans to purchase a home.

In an unscheduled move, the Bank of Canada (BoC) recently announced it was cutting its overnight lending rate to 0.75 per cent, effective March 16. The move was made to counter the negative economic repercussions of the COVID-19 pandemic and plummeting oil prices.