How Canadians Adapt and Thrive Amid High Interest Rates

Recent interest-rate volatility in Canada has increased mortgage costs at renewal, prompting more borrowers to choose variable-rate and shorter fixed-rate mortgages. These choices affect borrowing costs and how interest-rate risk is distributed, with households bearing much of the risk. Shorter terms expose borrowers to faster rate changes, impacting financial resilience amid economic uncertainty. Canada's mortgage system differs from others by placing more risk on households rather than lenders or taxpayers.