Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Canadians will see mortgages rise. Can savings provide a buffer?
This episode kicks off with an introduction to the podcast and a sponsorship message from Real Approved Incorporated. It delves into current trends in the Canadian mortgage market, with a focus on upcoming renewals and their potential impact. A comparison of financial insights between homeowners and renters is provided, highlighting key differences and challenges. The discussion moves on to evaluating and planning for financial pressures that may arise post-mortgage renewal. The episode concludes with closing remarks and a final mention of the sponsor, Real Approved Incorporated.
Key Points
- One-third of Canadian mortgage holders are set to see their mortgages increase by the end of 2026, but many have already built up a buffer against these rising costs.
- Sixty percent of all mortgages in Canada are up for renewal in 2025 and 2026, with Canadians' liquid assets slightly increasing from 4.7 months of income to 4.8 months between 2019 and 2024.
- While most households renewing their mortgages can cover the increase for at least 12 months using their financial assets, about 10 percent of households have a buffer that would last only one month or less.
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Transcript
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