Mortgage Payments to Rise for 60 Percent of Canadian Renewers by 2026

Sixty percent of Canadian mortgage holders renewing their property loans in 2025 or 2026 can expect an uptick in their monthly payments, a new report from the Bank of Canada says.

The majority of these borrowers have a five-year fixed-rate mortgage and are likely to be hit with a 15 to 20 percent increase in their monthly payments, a staff analytical note released this week by the central bank said.