08/19/2026
Despite Canada’s low default rate, mortgage holders are concerned about increased monthly payments ahead.....
Highlights:
- 38% of borrowers expect their monthly mortgage payment to increase upon renewal;
- 31% anticipate their payments to stay approximately the same
- Saskatchewan and Manitoba have the highest share of respondents expecting an increase in their monthly mortgage payment at renewal.
Nationally
- 43% of respondents say they feel about the same as they did at their previous renewal, while 35% say they feel more anxious.
- 76% of respondents who expect their mortgage payment to increase say it will put pressure on their household finances
Despite potential increases, 71% of Canadians with an upcoming mortgage renewal say they will not change their living arrangements to avoid higher monthly payments.
As the last of the pandemic-era mortgages come up for renewal, one third of Canadian borrowers say they’re anxious about their new paymentsDespite Canada’s low default rate, mortgage holders are concerned about increased monthly payments aheadHighlights:38% of borrowers expect their monthly mort...