Summary: CMHC says the mortgage-renewal wave peaked in 2025 and renewal volumes are expected to ease in 2026. That does not make an individual renewal automatic: a homeowner’s payment and options still depend on the written offer and their own mortgage terms.
What changed
In its Spring 2026 Residential Mortgage Industry Report, Canada Mortgage and Housing Corporation (CMHC) said that renewals dominated mortgage-market activity in 2025 and that the volume of renewals is expected to ease in 2026. CMHC also said that borrowers renewing after a five-year term are likely to face a similar interest-rate shock to borrowers who renewed in 2025.
Why it matters at renewal
The changing national volume is not a personal payment forecast. A renewal payment can depend on your balance at renewal, offered rate, remaining amortization, term, payment frequency, and the features in the written contract. CMHC’s broader message is that the large renewal cycle is continuing into 2026, while household pressure can differ materially across borrowers and regions.
Who should pay attention
This update is most relevant if your term ends in 2026 or 2027, especially if your current contract began in a lower-rate period. It is also useful if a higher payment would change your household budget or if you are deciding whether to compare a written alternative.
What to check next
- the rate, term, projected payment and remaining amortization in your written renewal offer;
- whether the offer uses the balance and payment frequency you expect;
- prepayment, portability, penalty and fee wording that could matter during the new term; and
- the total terms of any alternative offer, using the same assumptions.
Primary source
Canada Mortgage and Housing Corporation — Residential Mortgage Industry Report, Spring 2026
Published: May 12, 2026
Source checked: September 4, 2026