mortgage stress test Archives - Mortgage Rates & Mortgage Broker News in Canada

OSFI rejects Competition Bureau recommendation to drop mortgage stress test for lender switches

March 22, 2024 1 Comment

Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders.

Brokers react to the government’s “nonsense” mortgage charter

November 29, 2023 2 Comments

The Liberal government last week unveiled a “new” Canadian Mortgage Charter aimed at ensuring lenders offer relief to mortgage borrowers who are struggling to make their payments.

Surprise at news about insured mortgage switches

OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches

October 20, 2023 No Comments

Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week.

The mortgage stress test has helped protect Canada’s housing market in this downturn: OSFI

April 28, 2023 1 Comment

The mortgage stress test has thus far proven effective in protecting the housing sector from a volatile economy, but further changes haven’t been ruled out, says Canada’s banking regulator.

OSFI unlikely to tweak the mortgage stress test tomorrow

December 14, 2022 No Comments

Canada’s banking regulator is set to announce the results of its annual review of the mortgage stress test’s minimum qualifying rate on Thursday.

A deep-dive of the mortgage stress tests

A deep-dive into the mortgage stress tests: They’re necessary, but the design is flawed

September 29, 2022 1 Comment

This is the second in a two-part series exploring the impact the mortgage stress tests had on borrowers and some additional and unintended risks they have brought about.

A deep-dive into the mortgage stress tests: Did they serve their purpose?

September 27, 2022 1 Comment

In this two-part series, economist Will Dunning explores the premise of the mortgage stress tests and their current relevance in the context of today’s sharply higher interest rates and worsening economic conditions.

The latest in mortgage news: OSFI has no plans to loosen the stress test

September 14, 2022 1 Comment

Despite today’s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada’s banking regulator said no changes to the stress test are imminent.

Is Canada’s mortgage stress test still relevant?

August 21, 2022 2 Comments

Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canada’s stress test are overdue.

mortgage stress test