What is the current B-20 stress test requirement for uninsured mortgages in Canada?
Correct Answer
C) Qualify at the greater of contract rate plus 2% or 5.25%
OSFI's minimum qualifying rate for uninsured mortgages, applied by federally regulated lenders under Guideline B-20, is the greater of the mortgage contract rate plus 2% or 5.25%. The 2% is OSFI's buffer and 5.25% is its floor; it is not a Bank of Canada benchmark rate, and OSFI reviews both at least annually.
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