Many Canadian homeowners are delaying moving due to the high cost of living, survey says
Many Canadian homeowners are delaying moving due to the high c…
Jul 18, 2024
financialpost.com
📉 More than 60% of Canadian homeowners are heading toward renewal and most aren’t ready for what’s coming 👇 The Bank of Canada projects the largest wave of mortgage renewals in decades by the end of 2026. And for many, it’s going to mean higher payments, tighter budgets, and tough choices. Here’s what that looks like: 🏠 Most borrowers locked in during 2020–2021 at 1.5–2.5% rates. 💸 Renewal rates today are closer to 4%–5%, even with recent rate cuts. 📈 The Bank of Canada estimates that payme
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