B-20 Same-Lender Renewal Stress Test Exemption
Also known as: Same-lender renewal exemption · B-20 renewal exemption · Renewal stress test waiver
OSFI rule effective November 21, 2024 letting federally-regulated lenders renew an existing uninsured mortgage with the same lender without re-applying the B-20 stress test, even when the borrower would no longer qualify under current rules.
Effective November 21, 2024, federally-regulated lenders may renew an existing UNINSURED mortgage with the SAME LENDER without re-applying the B-20 stress test. This was the most material loosening of the federal mortgage stress test since its 2018 introduction. Before this change, borrowers who couldn't requalify under current B-20 rules were effectively locked into renewing at whatever rate their existing lender offered — switching lenders triggered the test, so the existing lender knew the borrower had no exit.
The exemption applies ONLY to same-lender renewals. Refinances and switch-lender renewals still trigger the stress test. The change materially shifts borrower negotiating leverage on renewal cycles — the existing lender can no longer use the test as leverage to keep the borrower at uncompetitive rates. Practical effect: same-lender renewal rates have compressed since the rule landed, since lenders now compete more aggressively to retain borrowers who can credibly threaten to leave.
Related terms
- OSFI Mortgage Stress Test (B-20) — OSFI Guideline B-20 requires federally-regulated lenders to qualify mortgage borrowers at the greater of (a) the contract rate plus 2 percentage points or (b) the Bank of Canada qualifying rate (5.
- CMHC Default Insurance Cap — The maximum home purchase price eligible for CMHC default mortgage insurance — raised from $1,000,000 to $1,500,000 effective December 15, 2024.
See also
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@misc{bronsonjob-osfi_b20_renewal_no_stress_test,
author = {Job, Bronson},
title = {{Mortgage renewal at same lender — no stress test (Nov 2024+)}},
howpublished = {BC Real Estate Codex},
year = {2026},
url = {https://www.bronsonjob.com/codex#osfi.b20.renewal_no_stress_test},
urldate = {2026-05-08},
note = {Fact ID: osfi.b20.renewal_no_stress_test, version 1.}
}Job, B. (2026). Mortgage renewal at same lender — no stress test (Nov 2024+). *BC Real Estate Codex*. Retrieved 2026-05-08, from https://www.bronsonjob.com/codex#osfi.b20.renewal_no_stress_test
Mortgage renewal at same lender — no stress test (Nov 2024+) — Bronson Job, BC Real Estate Codex (2026-05-08). https://www.bronsonjob.com/codex#osfi.b20.renewal_no_stress_test
Fact id: osfi.b20.renewal_no_stress_test · v1 · machine-readable: /api/v1/facts/by-id/osfi.b20.renewal_no_stress_test.json
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- OSFIretrieved 2026-05-08· published 2024-09-24OSFI removes stress test for uninsured mortgages renewing with their existing lenderhttps://www.osfi-bsif.gc.ca/en/news/news-releases/osfi-removes-stress-test-uninsured-mortgages-renewing-existing-lender
osfi.b20.renewal_no_stress_test · v1View in Codex →