In a significant move that could reshape the Canadian mortgage landscape, the Office of the Superintendent of Financial Institutions (OSFI) has announced it will eliminate the stress test requirement for straight switches of uninsured mortgages starting November 21, 2024. This policy change is poised to make mortgage renewals smoother and more accessible for many homeowners, potentially easing the financial strain for borrowers across the country. Understanding the Change: Since January 2018, the stress test under OSFI’s B-20 Guideline required borrowers with uninsured mortgages—those with a down payment of 20% or more—to qualify at the higher of the Bank of Canada’s five-year benchmark…