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.

The federal government is hailing its First-Time Buyer Incentive program as a golden opportunity for thousands of potential homebuyers across the country who are hoping to purchase their first property.

Alberta politicians at both the provincial and municipal level have recently spoken out against Canada's mortgage stress test.

Given the current economic situation across the province, the big question on many Calgarians' minds these days is, "can I afford to buy a home?"