The Globe and Mail reports in its Wednesday edition that Canada's bank regulator has kept the mortgage stress test unchanged for the third year in a row, saying it will lead to lower loan delinquencies because it ensures that borrowers can handle their payments if interest rates rise. The Globe's Rachelle Younglai writes that the Office of the Superintendent of Financial Institutions (OSFI) said the minimum qualifying rate (MQR) for uninsured mortgages would stay at 5.25 per cent, or two percentage points above their actual mortgage contract rate, whichever is higher. The last time OSFI changed the rate was in mid-2021. At the time, it started scheduling an annual MQR announcement for December and has kept the rate at 5.25 per cent for three announcements in a row. The requirement has proven to be helpful in ensuring that borrowers had the ability to continue making their loan payments as the Bank of Canada started to raise interest rates in March of 2022. OSFI reiterated that it expects that lenders will apply the MQR to ensure that borrowers can handle a higher interest rate. The stress test has made it harder for potential buyers to qualify for a bank loan and that has contributed to the slowdown in home sales.