In principle, OSFI regulations require that when homeowners qualify for mortgages, they're qualifying at a rate of interest that is dramatically higher than what they're paying now. If, in fact, we're right and rates go up by about 200 basis points between now and, say, sometime next year or the end of this year, that is well within the qualifying rate that is used by banks and other financial organizations to figure out if households are going to be able to afford to continue paying or servicing their debt at a higher rate.
On January 24th, 2022. See this statement in context.