2025 Mortgage Renewal Canada Rates. At least 1.2 million canadians are facing a mortgage renewal in 2025, and 85 per cent of those existing home loans were contracted when the bank of canada’s interest rate was at or below one per. With the current rate sitting at 3.75%, many homeowners will face higher interest mortgage renewal rates.

Borrowers renewing their mortgages in 2025, with an average current rate of 3.60%, are expected to experience the steepest payment shock. With inflation back to the bank of canada’s 2 per cent target and rate cuts expected to continue through next year, canadians should anticipate lower mortgage rates.