What The BoC's Rate Hold Means For Your Mortgage

We discuss the Bank of Canada's Financial Stability Report (FSR) for May 2025, which examines the current state of Canada's financial system and housing market. Here are three key points:

• The housing market shows high debt levels, with Canadians carrying approximately $1.73 in debt for every $1 of disposable income, making them vulnerable to economic shocks.
• Interest rates have decreased from their peak, creating a more positive outlook for borrowers, though they won't return to pandemic-era lows. TD forecasts this could help revitalize the housing market in 2025.
• About 60% of Canadian mortgages are due for renewal in 2025-2026, with most borrowers facing higher payments than their previous rates, though increases will be less severe than initially feared.

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