- Budget shifts: More than two-thirds (67%) of homeowners are feeling uneasy about their mortgage renewal. Among homeowners expecting higher payments, 56% are cutting back on household spending and nearly four in 10 (39%) expect to rely on savings or invest less.
- Stability prevails: Amid economic uncertainty, most homeowners are choosing stability. 64% plan to renew at a fixed rate, with five-year and three-year fixed rate terms leading the way as the most popular choices (30% and 17% respectively).
- Exploring options: 2 in 5 homeowners (40%) plan to shop around for a new lender at renewal.

- Seizing opportunity: 3 in 10 prospective buyers (30%) are now more likely to enter the market before the end of the year, driven largely by lower prices (50%), having enough saved for a down payment (48%) and stable interest rates (35%).
- Saving strategies: 3 in 4 (75%) are setting aside money each month for a future home purchase.
- Gaps remain: Despite closing in on home ownership, nearly 6 in 10 (58%) potential buyers admit they’re not familiar with home equity lines of credit (HELOCs) and nearly half (48%) expect to make a down payment of less than 20%, which means they may need a high-ratio mortgage requiring default insurance.
In this interview, Amyn Nathoo, Manager, Residential Mortgages, TD, discusses the mortgage renewal issue in Canada.

Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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