How Surrey and Abbotsford Homeowners Are Navigating Mortgage Renewal Shock in 2025

Mortgage renewals in 2025 have become anything but routine for homeowners across British Columbia — particularly in regions like Surrey and Abbotsford , where affordability remains under pressure. With five-year terms originating in 2020 now expiring, many borrowers are facing payment increases ranging from 30% to 50%, depending on their original rate, amortization, and lender flexibility. Even though the Bank of Canada’s current policy rate sits at 2.75% as of July 2025, fixed mortgage rates have been slow to follow suit. Bond market uncertainty and lender risk premiums continue to affect pricing, making it crucial for borrowers to take a proactive approach — especially those nearing mortgage renewal in the next 6 to 12 months. One of the most effective strategies emerging in the Fraser Valley is early renewal planning with the help of independent mortgage professionals. In fact, many homeowners are exploring renewal advice from local Surrey brokers who can help navigate...