Renewal-Shock Concerns Are Fading for Canadian Mortgage Holders

Canadian homeowners set to renew their mortgages this year can rest a little easier about having to pay higher rates.

Rates to renew a five-year mortgage aren’t much higher than they were when the mortgages were taken out, according to National Bank research. That means “no payment shock” for the 17.4% of mortgages renewing in 2019, Matthieu Arseneau, deputy chief economist at the Montreal-based bank, said by phone.