Market uncertainty leaves Canadians divided, expert advice becomes a key resource in navigating mortgage decisions

New TD survey reveals key gaps in affordability knowledge and rate expectations, as Canadians weigh homeownership decisions in a shifting market 

TORONTO, Aug. 20, 2025 /CNW/ - A new TD survey reveals how today's increasingly complex market is shaping the way Canadians approach one of life's biggest financial decisions: their mortgage. While the majority of Canadians feel informed about the mortgage process, the survey shows that economic volatility, rate unpredictability, and tariff pressures are prompting many to rethink their strategies, highlighting that expert guidance is a vital tool to navigate the challenges of today's environment.

Canadians are navigating interest rate uncertainty

While the Bank of Canada has held rates steady in recent months, Canadians remain divided on where rates could head next. The survey found that 32 per cent expect rates to rise, 27 per cent anticipate a decrease, and 29 per cent believe they'll remain unchanged. This lack of consensus reflects the challenges Canadians face when making long-term financial decisions in a rapidly shifting landscape.

"With so much uncertainty around what comes next, Canadians are thinking carefully about how best to approach their mortgage," says Patrick Smith, VP, Product Management, Real Estate Secured Lending at TD. "Expert advice can help bring clarity to that complexity, so Canadians can make confident, informed choices aligned with their needs and long-term goals."

Economic pressures add even more complexity

Beyond rate expectations, Canadians are increasingly aware of how broad economic shifts may influence their homeownership goals. Tariffs, in particular, are playing a key role in how Canadians make decisions about their mortgage. According to the survey, nearly a third (29 per cent) of Canadians say that tariffs have caused them to reassess their mortgage strategy.

The survey also found:

• 31 per cent say that tariffs have impacted their borrowing capacity;
• 28 per cent agree that tariffs have caused them to reconsider taking out a mortgage;
• 28 per cent agree that tariffs have impacted which mortgage lender they are choosing or plan to choose.

Trusted advice remains a key part of the mortgage process

While the survey showed strong overall awareness on the mortgage process in Canada, the complexities of today's market are creating new challenges for Canadians. More than a quarter (27 per cent) say they're unsure how to improve affordability, and 23 per cent encountered unexpected costs during the process. These findings highlight how even informed borrowers can benefit from tailored support.

In this environment, trusted advice continues to play a central role. The survey found that 88 per cent of Canadians say access to trusted advice is important, reinforcing the need for personalized support that helps Canadians navigate shifting market conditions.

Whether Canadians are renewing, refinancing or planning for their first home, TD Mortgage Direct makes it easy to get started. After answering a few quick questions online, Canadians are connected with a TD Mortgage Specialist who can offer personalized, one-on-one guidance tailored to their financial goals and the realities of today's market.

About the TD Survey

This survey was undertaken by The Harris Poll Canada. It ran overnight on May 19^th, 2025, among 942 randomly selected Canadian homeowners and 223 randomly selected Canadians who plan to purchase a home in the next two years.  These Canadians are adults who are also Maru Voice Canada online panelists.

The results have been weighted by age, gender, region, and education (and in Quebec, language) to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Canada. 

For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of ±3.2% among homeowners and ±6.6% among prospective homebuyers, 19 times out of 20. Discrepancies in or between totals when compared to the data tables are due to rounding.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank^®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 18 million active online and mobile customers. TD had $2.1 trillion in assets on April 30, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.

SOURCE TD Bank Group

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