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

OSFI warns of mortgage payment shocks as key risk to Canada’s financial system

March 14, 2025 No Comments

Canada’s banking regulator has flagged mortgage payment shocks as a significant risk to the country’s financial stability, citing the large volume of mortgages set for renewal in the coming years.

OSFI removes mortgage stress test on switches

OSFI’s stress test on mortgage switches ends: What you need to know

November 20, 2024 1 Comment

Starting tomorrow, certain mortgage borrowers will find it easier to switch lenders, thanks to the removal of the requirement to qualify at a higher stress test rate.

Public perceptions of banking regulator influenced mortgage decision: OSFI head

October 3, 2024 1 Comment

The recent decision by Canada’s banking regulator to relax a mortgage stress test rule was shaped in part by concerns about public perception of the agency, said Office of the Superintendent of Financial Institutions head Peter Routledge.

OSFI to eliminate stress test for uninsured mortgage switches starting November 21

September 25, 2024 1 Comment

OSFI has confirmed that it will remove the requirement for lenders to apply the Minimum Qualifying Rate (MQR) to straight switches of uninsured mortgages.

OSFI doubles down on keeping stress test for uninsured mortgage switches

June 13, 2024 1 Comment

The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches.

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.

OSFI to implement loan-to-income (LTI) restrictions

October 16, 2023 No Comments

Canada’s banking regulator confirmed today that it will no longer pursue at least several of the proposed mortgage regulations introduced earlier this year, but will move ahead with new loan-to-income restrictions for lenders.

Canada’s mortgage stress test: Obsolete or still doing its job?

August 14, 2023 No Comments

Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer needed with interest rates presumably near their peak.

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