How Canadian Homeowners Are Strategizing in July 2025’s Mortgage Landscape
As of July 2025, the Canadian mortgage market is in a state of cautious transition. Following a mid-year pause by the Bank of Canada (BoC), both homeowners and prospective buyers are reevaluating their next moves. While fixed rates have slightly dipped since spring, variable rate holders and those nearing renewal remain caught in a wait-and-watch game. So what are the biggest takeaways from this uncertain stretch of the market—and how are Canadians adapting? 1. The New Normal: Proactive Renewal Planning Unlike previous years, many Canadians are no longer waiting for renewal notices to act. Instead, they’re working with brokers months in advance to assess current market offerings. The logic is clear: with rates still hovering around 5–6% on average, waiting for a last-minute deal could mean higher monthly payments. In areas like British Columbia and Alberta, homeowners are increasingly exploring refinancing opportunities , especially if their original mortgages were taken ou...