Canada's residential mortgage market peaked in renewal activity in 2025, driven by a large cohort of low-rate mortgages from the early 2020s now maturing. While renewal volumes are expected to ease, many borrowers face higher interest costs, causing financial stress, especially in Toronto and Vancouver where delinquencies rose significantly. Borrowers are shifting toward shorter terms and variable rates amid rate uncertainty. Residential mortgage debt reached $2.4 trillion, with insured lending increasing due to regulatory changes.