{"id":19128,"date":"2021-12-29T15:15:00","date_gmt":"2021-12-29T23:15:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19128"},"modified":"2021-12-29T12:16:36","modified_gmt":"2021-12-29T20:16:36","slug":"mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/12\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\/","title":{"rendered":"Mortgage Stress Tests Remain, as Potential Rising Interest Rates Could Make Repaying Difficult"},"content":{"rendered":"<p style=\"text-align: justify;\">There won\u2019t be any added stress when applying for an uninsured mortgage the Office of the Superintendent of Financial Institutions said Friday.<\/p>\n<p style=\"text-align: justify;\">\u201cThe minimum qualifying rate for uninsured mortgages will remain the greater of the mortgage contract rate plus 2 percent or 5.25 percent,\u201d it stated,<\/p>\n<p style=\"text-align: justify;\">It continued : \u201cIn an environment characterized by increased household indebtedness and low interest rates, it is essential that lenders test their borrowers to ensure that mortgages can continue to be paid during more adverse conditions. This environment supports today\u2019s decision to maintain the current minimum qualifying rate.<\/p>\n<p style=\"text-align: justify;\">Mortgages are typically one of the largest exposures that banks carry on their balance sheets. Ensuring that borrowers can continue to repay their mortgage loans strongly contributes to the safety and soundness of Canada\u2019s financial system.<\/p>\n<p style=\"text-align: justify;\">OSFI reviews and communicates the minimum qualifying rate at least every December. Throughout the year, we will continue to monitor the appropriateness of the minimum qualifying rate and will make further adjustments, if conditions warrant.<\/p>\n<p style=\"text-align: justify;\">Sound mortgage underwriting is critical for maintaining the stability of the financial system. This is especially true now when changing conditions such as potentially rising interest rates could make repaying mortgages more difficult in the future.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2021\/12\/no-change-mortgage-stress-tests.html\" target=\"_blank\" rel=\"noopener\">No Change to Mortgage Stress Tests<\/a> by Steve Ladurantaye | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There won\u2019t be any added stress when applying for an uninsured mortgage the Office of the Superintendent of Financial Institutions said Friday. \u201cThe minimum qualifying rate for uninsured mortgages will &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/12\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-19128","post","type-post","status-publish","format-standard","hentry","category-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Stress Tests Remain, as Potential Rising Interest Rates Could Make Repaying Difficult &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2021\/12\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Mortgage Stress Tests Remain, as Potential Rising Interest Rates Could Make Repaying Difficult &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"There won\u2019t be any added stress when applying for an uninsured mortgage the Office of the Superintendent of Financial Institutions said Friday. \u201cThe minimum qualifying rate for uninsured mortgages will &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/12\\\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/12\\\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Mortgage Stress Tests Remain, as Potential Rising Interest Rates Could Make Repaying Difficult\",\"datePublished\":\"2021-12-29T23:15:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/12\\\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\\\/\"},\"wordCount\":224,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Mortgage\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/12\\\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/12\\\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/12\\\/mortgage-stress-tests-remain-as-potential-rising-interest-rates-could-make-repaying-difficult\\\/\",\"name\":\"Mortgage Stress Tests Remain, as Potential Rising Interest Rates Could Make Repaying Difficult &#8226; 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