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Mortgage Renewals – 2.75 million Canadian Mortgage Renewals Before 2028!!

November 20, 2025 Calgary mortgage

Mortgage Stress Test: Why It’s Protecting Homeowners Ahead of the 2026 Renewal Wave

If you locked in your mortgage around 2% five years ago, you probably remember grumbling about the federal “stress test.” At the time, qualifying at 5.25% felt unnecessary — almost punitive. Fast forward to today, and that very safeguard is proving to be one of the smartest policies in Canadian housing finance.

The Renewal Wave Is Coming

According to the latest CMHC report, Canada is heading into a busy period of mortgage renewals:

  • 750,000 mortgages will renew in the second half of 2025
  • Over 1 million more in 2026
  • 940,000 in 2027

Even though the Bank of Canada has cut rates nine times since its peak tightening cycle, borrowing costs remain much higher than they were during the pandemic lows. In fact, the average five-year fixed uninsured mortgage rate in July 2025 was still 67% higher than five years earlier.

“Banks are ready for the almost 3 million mortgage renewals before 2028. Lets get you a strategy on how to get the best rates on your renewal. Its a quick 10 minute phone call and we usually send you back to your own bank with the data you need to get a better rate from them OR we can move you to a bank that does get you better rates.”

Mortgage Mark Herman, Top Calgary Mortgage Broker for renewal advice

Stress Test Success

Here’s the good news: borrowers who qualified at 5.25% back in 2020 are now proving resilient. The stress test ensured they could handle payments at rates much higher than what they actually received. That foresight is paying off:

  • National mortgage delinquency rates fell in Q2 2025 — the first decline since 2022.
  • While Ontario and BC saw arrears climb (reflecting higher property values and loan sizes), the overall system is holding steady.
  • Fears of a “renewal cliff” have eased, thanks to both the stress test and recent rate cuts.

What This Means for You

If your mortgage is coming up for renewal in 2026, now is the time to plan. Options like refinancing, adjusting amortization, or exploring different products can help smooth the transition. The stress test gave you a buffer — but proactive planning will maximize your financial flexibility.

Call to Action: If your mortgage is set to renew in the next 12–18 months, let’s talk strategy. As a mortgage broker, I specialize in helping clients navigate renewals, refinances, and complex lending scenarios. Call me today to review your options and make sure you’re ready for what’s ahead.