Mortgage payments2 min read · Updated October 21, 2026

The Canadian mortgage stress test, explained

Repo-linked (EBLR): your rate rises by the same 0.25% at the next reset date, unless your lender holds back some of it. Resets happen at least once every three months, so expect the change within about three months of 7 October.
MCLR-linked: your lender's own cost of funds drives the rate and it resets on its own date, often every six or twelve months. The effect arrives later and may be smaller. Our guide to [[blog:eblr-vs-mclr-home-loan|EBLR and MCLR]] explains the difference.
Fixed rate: nothing changes until the fixed period ends.

How the mortgage stress test works, with examples of the qualifying rate and what it does to the payment you must afford.

The rule

Set by OSFI. Lenders check that you could still pay if your rate were higher.

What is the mortgage stress test?

A check that you can afford the greater of your rate plus 2 points or 5.25%.

Does it apply to renewals?

Rules differ. Ask your lender.

Published October 21, 2026. Estimates, not tax or mortgage advice.