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Mortgage Qualifying Rate( MQR )

Mortgage Qualifying Rate is taken off a calculation that takes all the big banks' posted five-year rates and finds a middle ground. 

The banks are supposed to take that number, roughly an average of all the banks, then add 200 basis points (two percentage points) on top of it, then see if the mortgage shopper can handle payments at that higher rate. 

If the applicants can't, then they don't qualify for the mortgage.

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