60% of Canadian Mortgages Are Renewing. Here's What to Do Before You Sign

Shane Hewitt and The Nightshift · Feb 19, 2026 · 11m

Shopping your mortgage at renewal could be the most valuable hour you spend this year. Your bank sends a number, and it looks reasonable. But the broker you call has access to lenders and specials that never show up at the branch, and half the people renewing this year intend to shop around. The question is whether you're one of them.

The subprime lending market in Canada has nearly doubled, from 8% to 16% of all mortgages, and it's not because people are less creditworthy. Bank regulators have tightened the rules for traditional lenders, pushing otherwise qualified buyers into a space that…