Bank of Canada warns of looming mortgage payment spike
A new report from the Bank of Canada indicates that over half of Canadian mortgage holders will face increased monthly payments when their loans are renewed this year and next.
A new report from the Bank of Canada indicates that over half of Canadian mortgage holders will face increased monthly payments when their loans are renewed this year and next.
“About 60 per cent of all outstanding mortgages in Canada are expected to renew in 2025 or 2026,” reads the central bank’s release published on Thursday.
