1 in 10 are considering downsizing, relocating to a more affordable region or renting out a portion of their home to combat higher borrowing costsHighlights:
- 57% of Canadians whose mortgage is renewing in 2025 anticipate their monthly payment will increase, while 40% expect their payment will stay the same or decrease.
- Among those who expect their monthly payment to increase upon renewal, 81% say it will put financial strain on their household.
- Respondents in the province of Quebec are least likely to expect increased monthly mortgage payments and financial strain upon renewal.
- More Canadians are looking to sign variable-rate mortgages upon renewal, as interest rates continue to decline.
- As the trade conflict between the United States and Canada intensifies, more aggressive rate cuts by the Bank of Canada are possible to stave off a potential recession.
reposted courtesy of royallepage.ca
