Mortgage Stress Test & Qualifying Rate Changes

Understanding the Stress Test

The mortgage stress test requires borrowers to qualify at a higher rate than their actual mortgage rate. This ensures borrowers can afford their payments even if rates increase. The qualifying rate is the greater of your contract rate plus 2% or the Bank of Canada's benchmark rate.

Changes to stress test rules can significantly impact your purchasing power. We help you understand these requirements and structure your application to maximize your approval amount.