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The survey also shows that homeowners are thinking carefully about their next steps. Many are holding off on non-essential projects or considering changes to their living arrangements to stay on track financially.

In fact, 43 per cent are pausing home renovations, while 29 per cent are open to downsizing or selling. Further, 15 per cent are considering welcoming a roommate and another 15 per cent may move to a different neighbourhood.

“Three-quarters of Canadians renewing their mortgage this year are leaning toward a fixed rate, which speaks to a desire for predictability,” says Patrick Smith, Vice President, Real Estate Secured Lending at TD. “But it’s important to recognize that the right solution can vary from person to person, depending on their unique financial goals and circumstances.”

First-time buyers are being thoughtful too

The changing landscape isn’t just affecting current homeowners. Canadians looking to buy their first home are adjusting their approach as well. More than half (55 per cent) say they’re cutting back on non-essential purchases to help save, and nearly one in three (31 per cent) are using their investments – such as TFSAs, RRSPs or FHSAs – to bring homeownership within reach.

Still, many are navigating the process on their own. Only 35 per cent have sought formal advice, even though 39 per cent say that getting guidance more quickly would give them greater confidence.

“In an economy that continues to shift and evolve, we know it’s not always easy for Canadians to feel certain they’re making the right real estate choices,” says Smith. “That’s why having access to timely advice and support can make all the difference.”

Looking ahead

Whether renewing or buying for the first time, Canadians are thinking ahead, making thoughtful choices, and looking for ways to stay informed. While the path may look different for everyone, the underlying goal remains the same: to feel confident and secure in their homeownership journey.

For Canadians who want mortgage help ASAP, they can book an appointment online at a TD branch at a time that’s most convenient to them, or visit TD Mortgage Direct to be connected with a TD Mortgage Specialist who can provide personalized mortgage advice for their home ownership journey.

^{*The national survey, conducted in April 2025 by The Harris Poll, captured responses from 890 homeowners and 881 prospective buyers. Results were weighted to match previous surveys and carry a margin of error of ±3.3%, 19 times out of 20.}