Mortgage renewals will strain Canadians, but most will manage: TD report

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By News Room 2 Min Read

TORONTO – A report by TD Bank suggests mortgage renewals are expected to strain Canadian households, but most borrowers will manage albeit with less financial flexibility.

The report by economist Maria Solovieva says households who locked in their mortgage for five years in 2020 during the pandemic when interest rates were low are now renewing at much higher rates and will see higher payments.

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