Garry Marr: Why U.S. 30-year mortgage contracts are a mixed blessing for homeowners

2 weeks ago 6

Rommie Analytics

The U.S. mortgage system provides stability when rates are low, but limits market growth because homeowners can get stuck, especially if prices go down.

Canadians renewing their mortgages this year might wish they were part of the American system that locks rates in for 30 years. But as the saying goes, be careful what you wish for.

About 60 per cent of Canadians with mortgages were expected to renew in 2025 and 2026, about one third of them at higher rates .

Five-yea...

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