The Office of the Superintendent of Financial Institutions Canada (OSFI) announced a number of new mortgage rules which came into effect on January 1, 2018. The new rules, which affect all Canadians renewing or refinancing a mortgage, will require borrowers to pass a stress test to prove that they can handle interest rate hikes that are significantly higher than their current mortgage rate. The new, wide ranging changes, apply to all federally regulated financial institutions.

See our prior blog post, for details of how the new Mortgage Stress Test Rules work.

The graphic set out below, will give you an idea of how these rules will impact borrowers, across Canada.

If you any questions about mortgage related stress tests, please contact our firm at (604) 688-4900, or email Paul Barbeau at