Mortgage Amortization of the 7 Largest Lenders (Q2 2024 - Q2 2025)

June 30, 2025

🍁 Remaining Amortization of the Residential Mortgages from Canada’s 7 Main Lenders (as of April 30, 2025 - Q2 2025)

Remaining Amortization	RBC	TD	Scotiabank²	BMO	CIBC	National Bank²	Desjardins ¹
≤25 years	76.0%	63.1%	69.0%	65.2%	64.0%	67.9%	91.6%
>25 to ≤35 years	24.0%	30.6%	30.5%	27.8%	29.0%	32.0%	6.3%
>35 years	0.0%	5.6%	0.5%	6.9%	6.9%	0.1%	2.1%
Negative Amortization	n/a	0.7%	n/a	0.1%	0.1%	n/a	n/a

Remaining Amortization	RBC	TD	Scotiabank²	BMO	CIBC	National Bank²	Desjardins ¹
≤25 years	58.0%	50.9%	71.2%	56.0%	56.0%	72.0%	90.5%
>25 to ≤35 years	23.0%	35.5%	28.6%	22.7%	24.0%	27.9%	4.9%
>35 years	19.0%	2.3%	0.2%	8.2%	6.4%	0.1%	4.6%
Negative Amortization	n/a	11.3%	n/a	13.1%	13.6%	n/a	n/a

1. Desjardins data is as of March 31st

2. For Scotiabank and National Bank, the periods are <25 years, 25-34 years and ≥35years

Sources: Banks' Quarterly Financial Reports

🔹 Negative amortization mortgages: The share of mortgages with negative amortization — where payments don’t even cover the interest — fell sharply from 5.4% to just 0.1% over the past year, reflecting relief from recent Bank of Canada rate cuts.
🔹 Amortizations Over 35 Years: The percentage of residential mortgages with remaining amortizations over 35 years dropped from 7.8% to 3.0%.

🔹 Big Six Banks – Write-Offs: Although total loan write-offs this quarter were the second highest in the past 10 years (as a % of total loans), mortgage-related write-offs remained low. Across all Big Six banks, only $35 million in mortgage debt was written off, or just 0.002% of all residential mortgages.
🔹 Big Six Banks – Provisions for Credit Losses (PCL): PCL as a percentage of total loans reached its highest level in the past 15 years—excluding the COVID period. However, mortgage-specific PCLs remained low, totaling $350 million across the Big Six banks, or just 0.02% of all residential mortgages.

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