Mortgage Renewals & Market Impact: Key Insights for Homeowners

With over $900 billion in mortgages set for renewal over the next three years—$186 billion in 2024, $315 billion in 2025, and a substantial $400 billion in 2026—the Canadian housing market is facing a period of change. These renewals will impact many homeowners, and it’s crucial for clients to understand their options to avoid unnecessary costs.

Delayed Moves Could Mean Higher Costs

Many homeowners are waiting to see where interest rates land before making a move. However, delaying could mean paying more for the same home. If clients wait until renewal, they may face higher property prices, along with multiple-offer situations, which can drive up costs even further. Moving sooner…

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