Finally, Mortgage Renewals Have Entered A New Era

Globe and Mail ~ November 6th, 2018

As Canadian mortgages come up for renewal, many households are starting to experience what TD Economics has dubbed a “completely new phenomenon” – higher interest rates.

In a recent report, TD looked at the change to the conventional five-year mortgage rate over its term length. Essentially, this shows where rates for a popular product – the five-year, fixed-rate mortgage – stand upon renewal. For much of the past quarter-century, the change has been negative, meaning Canadians could expect lower rates come renewal time.

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