More Than a Million Canadian Households Are Due to Renew Mortgages This Year

Canada is in the middle of its largest wave of mortgage renewals, with more than a million households either renewing or close to renewing this year, Global News reports.

The striking part is the concentration. Renewal is the moment financial conditions actually reach a household budget, and a million-plus households hitting that moment inside the same twelve months is a lot of budgets turning over together. The calendar, not any single rate, is what makes this worth watching for anyone trying to read Canadian consumer spending this year.