🍁 Sharp decline in mortgages with remaining amortization over 35 years
• Oct 2023: 15.5% of Big 7 mortgages*
• Oct 2025: 2.2% of Big 7 mortgages*
* Includes only residential mortgages in Canada held by the Big 6 banks plus Desjardins.
🧮 Remaining Amortization Breakdown as of Q4 2025 for the Big 7 (Oct 2025)
- 🔹 ≤ 25 years: 70.6% ($1,192B)
- 🔹 > 25 years: 29.4% ($497B), of which 2.2% ($38B) have remaining amortization over 35 years.
Overall risk in Canadian banks’ mortgage portfolios is low, supported by lower interest rates and Canada’s strong recourse and foreclosure rules.
Amortization of Mortgages in Canada: 7 Largest Lenders
| Remaining Amortization | RBC | TD | Scotiabank* | BMO | CIBC | National* | Desjardins** |
|---|---|---|---|---|---|---|---|
| ≤ 25 years | 76.0% | 63.9% | 67.7% | 65.7% | 66.0% | 65.0% | 90.1% |
| > 25 years – 30 years | 24.0% | 30.2% | 30.5% | 27.1% | 27.0% | 32.8% | 8.4% |
| > 30 years – 35 years | 0% | 1.2% | 1.1% | 2.5% | 2.0% | 2.1% | 0.1% |
| > 35 years | 0% Q4 2023: 22% | 4.7% Q4 2023: 5.2% | 0.7% Q4 2023: 0.2% | 4.6% Q4 2023: 5.0% | 5.0% Q4 2023: 5.9% | 0.1% Q4 2023: 0.0% | 1.4% Q4 2023: 6.2% |
| Negative Amortization | n/a Q4 2023: n/a | 0% Q4 2023: 14.0% | n/a Q4 2023: n/a | 0.1% Q4 2023: 19.9% | 0% Q4 2023: 16.1% | n/a Q4 2023: n/a | n/a Q4 2023: n/a |
* For Scotiabank and National Bank, the periods are <25 years, 25-29 years, 30-34 years and ≥35 years
**As of Sep. 30 of the respective year. Desjardins does not publish the volume of its negative amortization mortgages; they are grouped together with amortizations over 35 years.
Sources: Lenders' Annual & Quarterly Financial Reports
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