US Edition60 per Cent of Canadians Could Face Higher Mortgage Payments by 2026: Bank of Canada
CANADA, JUL 16 – Most borrowers with five-year fixed-rate mortgages could face 15-20% higher monthly payments, with an average annual increase of about $5,000, Bank of Canada and Ratehub.ca report.
- The Bank of Canada indicated on July 18, 2025, that approximately 60% of homeowners with mortgages due for renewal in 2025 and 2026 are expected to experience an increase in their monthly repayment amounts.
- This rise results from increasing interest rates and mortgage conditions, with fixed-rate mortgage holders especially facing 15 to 20 percent payment jumps.
- Average monthly payments are expected to increase 10% in 2025 and roughly 6% in 2026, while about 10% of variable-rate borrowers could see hikes exceeding 40%.
- Mortgage expert Penelope Graham noted that paying nearly $5,100 more yearly is challenging for households and recommended contacting lenders to explore payment deferral or lump sum options.
- Despite rising payment pressures, the Bank of Canada considers these renewals unlikely to cause severe economic stress, although some borrowers may face financial challenges without proactive measures.
11 Articles
11 Articles
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. Rates will rise for many mortgage holders comp…
60 per cent of Canadian mortgage owners could face higher mortgage payments by 2026: Bank of Canada
Roughly 60 per cent of Canadian mortgage holders will face higher monthly payments when their loans come up for renewal in 2025 and 2026, according to a new Bank of Canada report.
Canadian Business Sentiment Likely Stabilized in Q2 After Earlier Deterioration - Action Forex
The Bank of Canada’s Business Outlook Survey on Monday is expected to show early signs of stabilization in businesses’ expectations for future sales, input prices and hiring in Q2. The likely improvement follows marked deterioration in Q1, and was during a survey period (Q2 typically spans from early to late May) when threats specifically targeting […] The post Canadian Business Sentiment Likely Stabilized in Q2 After Earlier Deterioration appea…
Coverage Details
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
To view factuality data please Upgrade to Premium
