Mortgage Stress Test

• Homeowners won’t face mortgage stress test if renewing with new lender: OSFI

  Homeowners switching mortgages to new lenders at renewal will soon no longer have to requalify under the stress test as Canada's banking regulator moves to drop the requirement.

  Money

  Sep 26
  
• Should Canada ditch the mortgage stress test? What experts are saying

  Before someone borrows money from a federally regulated lender, like a bank, they need to prove they can afford payments at a qualifying rate. This is called a 'stress test.'

  Money

  Aug 16
  
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• OSFI sees mortgage stress test ‘imbalance’ at renewal but rules not changing yet

  Canada's banking watchdog acknowledges there's an 'imbalance' for insured and uninsured mortgage holders facing the stress test at renewal, but stands by the practice.

  Money

  Jun 11
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• Drop the mortgage stress test at renewal, competition watchdog urges Ottawa

  The Competition Bureau is urging the federal government to waive the mortgage stress test for all borrowers at renewal, arguing it can help Canadians get a better rate.

  Money

  Mar 21
• Mortgage stress test to remain unchanged in Canada

  The stress test for both insured and uninsured mortgages in Canada remains unchanged, the country's banking regulator and finance minister confirmed.

  Money

  Dec 12, 2023
• Ottawa loosens mortgage stress test in housing-focused fall fiscal update

  The fall economic statement proposed a new Canadian Mortgage Charter to set expectations for homeowners' interactions with federal lenders.

  Money

  Nov 21, 2023
• Canadian home prices have stabilized. Will incomes ever catch up?

  The report calculated the minimum annual income needed to buy an average home in 10 of Canada's major cities and looked at how that amount rose between June and July 2023.

  Consumer

  Aug 16, 2023
• Banking regulator launching consultations on mortgage stress test as debt risks rise

  OFSI says that while the mortgage stress test has been helpful, more measures might be needed to reduce lending risks as debt-service levels surge.

  Economy

  Jan 12, 2023
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• Looking to avoid the mortgage stress test? What to know about alternative lenders

  The mortgage stress test is holding steady heading into 2023. For those boxed out of buying a home, is the alternative market an option? Here's what to know.

  Money

  Dec 17, 2022
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• Mortgage stress test remains unchanged. What that means amid higher interest rates

  The regulator in charge of Canada's mortgage stress test announced Thursday it will leave the qualifying standard where it is amid current high rates and economic uncertainty.

  Economy

  Dec 15, 2022