Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
Stress Test Qualifier
Check if you qualify under Canada's mortgage stress test rules.
đ°Income
đMonthly Debt Payments
Exclude rent/mortgage payments
đ Property Costs
đĻMortgage Details
â Does Not Qualify
Stress Test Rate
6.5%
Monthly Payment
$2,701
Max: 39% | -7.5%
Max: 44% | -10%
To Qualify, You Need:
âšī¸ About the Stress Test
- âĸ You must qualify at the higher of: 5.25% OR your contract rate + 2%
- âĸ GDS (Gross Debt Service): Housing costs should be ⤠39% of income
- âĸ TDS (Total Debt Service): All debts should be ⤠44% of income
- âĸ Some lenders may have stricter requirements
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Frequently Asked Questions
What is the mortgage stress test in Canada?
The mortgage stress test requires lenders to qualify borrowers at a higher interest rate than their actual mortgage rate. As of 2026, you must qualify at the greater of: the Bank of Canada 5-year benchmark rate (currently 5.25%) OR your contract rate + 2%. This ensures you can afford payments if rates rise. Our calculator shows if you pass at the stress test rate.
What are GDS and TDS ratios?
GDS (Gross Debt Service) is the percentage of your gross income spent on housing costs (mortgage, property tax, heating, condo fees). It must be ⤠39%. TDS (Total Debt Service) includes housing costs PLUS all other debt payments (car loans, credit cards, student loans). It must be ⤠44%. Both are calculated using the stress test rate, not your actual rate.
What happens if I fail the stress test?
If you fail the stress test, you have several options: increase your down payment to reduce the mortgage amount, pay off existing debts to lower your TDS ratio, add a co-signer with income, choose a less expensive property, or wait and improve your financial situation. Some alternative lenders have more flexible requirements but charge higher rates.
Does the stress test apply to all mortgages?
The stress test applies to all mortgages from federally regulated lenders (banks, credit unions under federal jurisdiction). Some provincially regulated credit unions and private lenders may not require it, but they typically charge higher rates. Renewals with your current lender usually don't require re-qualification, but switching lenders does.
How can I improve my chances of passing the stress test?
Improve your chances by: paying down debts to lower TDS ratio, increasing your down payment (reduces mortgage and may avoid CMHC), increasing income (second job, side business, co-signer), choosing a longer amortization (lowers payments but increases interest), or targeting a less expensive property. Pre-approval helps you understand your limits before house hunting.