Homeowners renewing their mortgage won’t be subject to the stress test if they choose to stay with their existing bank. If your mortgage is up for renewal, and you decide to move to a new lender, you will be treated as a new borrower and will have
to qualify at the higher stress test rate. Whether you’re buying a home, renewing, or refinancing, speak with a mortgage advisor who can help guide you through the process and answer your questions, so that you can make decisions that are right
for you and your family.