Like all other materials, biological soft tissues are subject to general laws of physics, including those governing mechanical equilibrium and stability. In addition, however, these tissues are able to respond actively to changes in their mechanical and chemical environment. There is, therefore, a pressing need to understand such processes theoretically. In this talk, we present a new rate-based constrained mixture formulation suitable for studying mechanobiological equilibrium and stability of soft tissues exposed to transient or sustained changes in material composition or applied loading. These concepts are illustrated for canonical problems in arterial mechanics, which distinguish possible stable versus unstable mechanobiological responses. Such analyses promise to yield insight into biological processes that govern both health and disease progression.