Mortgage Renewal Challenge

Over the next two years, more than 4 million mortgages—around 60% of all outstanding mortgages—are set to renew. A large share of these mortgages haven't come up for renewal since interest rates began rising in 2022. Even with recent rate declines, most borrowers will likely face noticeably higher payments. 

Higher payments could lead households to cut back on spending more than anticipated, potentially slowing the economy. They could also create financial stress for borrowers and result in losses for lenders and mortgage insurers.

If your mortgage is coming up for renewal, don’t wait until the last minute to explore your options. Starting early gives you a better chance of securing a favourable outcome. Reach out to me, and I’ll help you review and compare the available options.