US EditionMore retiring Canadians expect to continue making mortgage payments
- Royal LePage reported in May 2025 that nearly a third of Canadians retiring soon expect to continue making mortgage payments after leaving work.
- This trend results from rising home prices, delayed homeownership, and financial support to children, which doubled seniors with mortgage debt since 2016.
- Phil Soper, CEO of Royal LePage, noted that retirees often cover mortgage expenses through income from investments, occasional employment, or a spouse who continues to earn, while weighing whether downsizing aligns with their financial situation and personal preferences.
- Soper highlighted that rising home prices have presented both advantages and challenges for current retirees, noting that 45% of those retiring have already cleared their mortgages, while just 6% expect to do so before retirement.
- The findings imply more retirees face mortgage debt and diverse financial strategies, which challenges the traditional expectation of mortgage-free retirement.
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Mortgage Application Activity Decreases for Second Consecutive Week
Rising mortgage rates and ongoing market volatility resulted in a second week of purchase activity pullbacks, but activity is still up over this time last year. According to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association (MBA) for the week ending May 23, the Market Composite Index (a measure of mortgage loan… The post Mortgage Application Activity Decreases for Second Consecutive Week appeared first on RISM…
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Total News Sources5
Leaning Left1Leaning Right1Center1Last UpdatedBias Distribution33% Left, 33% Center, 33% Right
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
33% Right
L 33%
C 33%
R 33%
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