Did Stress Test Got Removed For All Mortgage Renewals?

The Office of the Superintendent of Financial Institutions (OSFI) Canada recently eliminated the stress test requirement for all mortgage renewals, no matter insured or uninsured. With over 70% of Canadian mortgages being uninsured ones, homeowners can now switch to a different lender to take advantage of a better deal, without feeling stressed about mortgage stress test. Insured mortgages were already free from stress test requirement and now uninsured mortgages are eliminated too. Read more: https://www.sandhusranmortgages.com/blog/did-stress-test-got-removed-for-all-mortgage-renewals/