It was billed as a potential looming crisis for Canada’s economy: the wave of mortgages coming up for renewal in 2025 and 2026 at significantly higher rates than those on offer when the loan was originated. But a spate of central bank interest rate cuts and a dip in fixed rates mean that threat has faded – and renewal pain is unlikely to be a major talking point in 2025, according to market watchers.

Home sales activity recorded over Canadian MLS® Systems rose again in November, building on October’s surprise jump.

Sweeping changes to Canada’s mortgage system, announced in September by the federal government, officially took effect on Sunday. Brokers said the changes could open the door for more Canadians to enter the housing market.