In 2025, Canada will see $1.4 trillion worth of mortgages up for renewal, marking one of the largest mortgage renewals in its history. Homeowners will have the chance to renegotiate their mortgage terms. However, the economic conditions of 2025, including interest rates and inflation, will heavily influence the new terms. This renewal wave will impact the housing market, potentially leading to more competitive mortgage products and rates. However, higher interest rates could increase monthly payments for some homeowners and cause financial strain. The broader economic effects will include chan…