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57% of Canadians renewing mortgages expect monthly payments to rise: Poll

Summary by Toronto Sun
More than half of Canadians – or 57% – renewing a mortgage this year expect their monthly payment to increase, according to a new Royal LePage survey.

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Toronto SunToronto Sun

57% of Canadians renewing mortgages expect monthly payments to rise: Poll

More than half of Canadians – or 57% – renewing a mortgage this year expect their monthly payment to increase, according to a new Royal LePage survey.

·Toronto, Canada
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StoreysStoreys

"Increasingly Attractive": More Canadians Leaning Towards Variable-Rate Mortgages Ahead Of Renewal

With borrowing costs on the decline, variable-rate mortgages have been gaining popularity amongst homeowners, Royal LePage reports in its most recent mortgage survey.Over the course of 2025, around 1.5 million mortgages will come up for renewal, the "vast majority" of which will face higher lending rates than when they locked in, even after the Bank of Canada's (BoC) aggressive rate cutting cycle in 2024. This is because "hundreds of thousands" …

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Mortgage Rates & Mortgage Broker News in CanadaMortgage Rates & Mortgage Broker News in Canada

Homeowners expect monthly mortgage payments to rise upon renewal in 2025: survey - Mortgage Rates & Mortgage Broker News in Canada

As more than one million mortgages come up for renewal in Canada this year, a new survey says the majority of those homeowners expect to pay more in their monthly borrowing costs.

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Mortgage Rates & Mortgage Broker News in Canada broke the news in on Thursday, February 20, 2025.
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