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 facing payment increases have a five-year fixed-rate mortgage and could be hit with an average payment increase of 15 to 20 percent compared with their December 2024 payment, a staff analytical note released this week by the central bank said.
