Global News ~ February 21st, 2025
A survey by Royal LePage estimates more than one million Canadian mortgages will come up for renewal this year with about 85 per cent of them secured when interest rates were rock bottom.
The survey found that more than half of those homeowners said they expect bad news when they renew and they anticipate their monthly payment will increase.
Twenty-two per cent say it will rise significantly and 81 per cent say the increase will put a financial strain on their household.
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