Nearly 1.2 million fixed-rate mortgages across the country are up for renewal in 2025, government data shows, creating a financial risk for the 85% of homeowners who contracted their loans when the Bank of Canada's overnight lending rate was under 1%.
CMHC says 1.2 million homeowners could face mortgage cost-increases next year
Agency says higher interest rates could be in store for 85% of home loan renewals in 2025
By Garry Marr
CoStar News
November 6, 2024 | 2:48 P.M.
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