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What Is the Stress Test?
Since 2018 (B-20 guidelines from OSFI), all federally regulated lenders must qualify you at the higher of: (a) your actual contract rate + 2%, or (b) the Bank of Canada's 5-year benchmark qualifying rate (the "floor"). As of early 2026, the floor is 5.25%.
Tip: The stress test applies to all buyers - not just those with less than 20% down. Even if you have 40% down, you are stress-tested.