Episode 1: Proposed Changes to the Mortgage Stress Test

Canada proposes tighter mortgage stress test as home prices surge. The Office of the Superintendent of Financial Institutions (OSFI) is proposing that the new benchmark to determine the minimum qualifying rate for uninsured borrowers would be either the greater of a range of rates submitted by lenders plus 200 basis points or %, according to a letter to lenders. What does this mean for you?