Hustle & GritWatch us on YouTube
How many Canadian mortgages are renewing, and how much are payments rising? Data from CMHC's Residential Mortgage Industry Report and the Bank of Canada's Financial Stability Report 2026.
Canadian mortgages renewed in 2025 — the peak of the post-pandemic renewal wave
— with roughly 26% of all outstanding mortgages set to renew within 12 months of the Bank of Canada's Spring 2026 report.
CMHC Residential Mortgage Industry Report / Bank of Canada
The Bank of Canada's Financial Stability Report 2026 breaks the remaining renewal wave down by mortgage type and half-year period.
Share of mortgage accounts renewing in each period, by mortgage type, as projected in the Bank of Canada's Financial Stability Report 2026 (Chart 8), based on market rate expectations as of May 19, 2026.
2025 was the peak: about 1.2 million fixed-rate mortgages renewed in 2025 — more than any other year of the post-pandemic renewal wave — before volumes eased into 2026, per CMHC's Residential Mortgage Industry Report.
The pandemic-era cohort still bites hardest: Canadians renewing a five-year-plus fixed mortgage taken out during 2020–22 face an average payment increase of about 15%, versus almost no change for variable and shorter-fixed borrowers, per the Bank of Canada.
About a quarter of the market renews within a year: roughly 26% of all outstanding Canadian mortgages — split about evenly between the last pandemic-era fixed terms and variable/shorter fixed terms — are due to renew in the 12 months following the Bank of Canada's Spring 2026 report.
The wave doesn't fully clear until late 2027: OSFI estimated in late 2024 that 36% of outstanding mortgages that had not yet seen a payment increase since origination would renew by the end of 2026, with the Bank of Canada projecting the remaining pandemic-era cohort clears by the second half of 2027.
| Mortgage type | Renewal period | Share of mortgage accounts | Avg. payment change |
|---|---|---|---|
| 5-year-plus fixed (pandemic-era) | 2026 H2 – 2027 H1 | 12.4% | +15.2% |
| 5-year-plus fixed (pandemic-era) | 2027 H2 | 4.1% | +5.8% |
| Variable or fixed <5 years | 2026 H2 – 2027 H1 | 14.4% | −0.04% |
| Variable or fixed <5 years | 2027 H2 | 10.2% | +1.2% |
Bank of Canada, Financial Stability Report 2026, Chart 8. Payment changes are relative to December 2025 payments.
Canadian residential mortgage debt outstanding, Dec 2025
CMHC
90+ day mortgage delinquency rate, Q4 2025 (up from 0.21% a year earlier)
CMHC RMIR
average payment increase for pandemic-era 5-year+ fixed mortgages at renewal
Bank of Canada
of outstanding mortgages without a payment increase since origination were due to renew by end of 2026 (est. Nov 2024)
OSFI
The renewal book is the single most predictable source of deal flow a broker owns — every borrower on it has already qualified once and is contractually due for a conversation. With roughly a quarter of the market renewing over the next year and payment shocks concentrated in the pandemic-era cohort, brokers who systematically flag and reach out to upcoming renewals before the big banks' auto-renewal notices land can convert a predictable calendar event into a retained or re-earned client.
Last updated August 1, 2026. Each figure carries its source; projections are labelled. Page reviewed on every major source release. Information only — not advice.
See how Treadstone can scale your brokerage — a free call, no commitment.