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Mortgage Renewal Shock 2026: What Canadian Homeowners Need to Know

  The Reality: Over 60% of Canadian mortgages are renewing in 2025 and 2026—many at rates significantly higher than their original terms. While some homeowners will see relief, others face payment increases of 15–40%. This guide will help you understand what's happening, run the numbers, and explore your options before your renewal date arrives. The Big Picture: What's Happening in 2026 Canada is experiencing a historic wave of mortgage renewals. A large cohort of mortgages originated during the pandemic's historic low-rate period—when rates hovered around 2% or lower in 2020–2021—are now maturing and resetting at today's rates. The Bank of Canada staff estimate that roughly 60% of outstanding mortgages will renew in 2025 and 2026, making this the most significant renewal cycle in decades. In 2026, the average mortgage renewal increase is projected to moderate to around 6%, though individual experiences vary dramatically depending on mortgage type and renewal timing. W...
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Freeland and Carney Poised to Enter Liberal Leadership Race

In a significant political development, former finance minister Chrystia Freeland and ex-central banker Mark Carney are expected to enter the race for the Liberal Party leadership. This follows Prime Minister Justin Trudeau's announcement that he will step down once a successor is chosen.

Freeland, who has been a prominent figure in Trudeau's cabinet, is currently leading in public opinion polls. Carney, known for his tenure as the Governor of the Bank of Canada, is also a strong contender. The leadership vote is set for March 9, ahead of the 2025 national elections.

The Liberal Party faces significant challenges, including economic issues and declining support. The new leader will need to address these concerns and devise a strategy to counter the opposition Conservatives.


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