Most Canadian mortgage borrowers have managed higher renewal payments despite falling home prices, but reduced equity limits refinancing options for highly indebted homeowners, especially in Toronto. About 4% of borrowers nationally and 9% in Toronto may struggle to refinance in 2027, rising if prices drop further. Mortgage arrears remain low, but stress is higher among those with large loan-to-income ratios, particularly recent Toronto-area borrowers.
Continue to full article
