As mortgage decisions get harder, professional advice can help cut through the confusion
Here's how speaking to an expert can give you clarity.
Smiling woman outdoors in the city. Right: Hand holding new house keys.
Between rising costs, unpredictable interest rates, and economic ripple effects like tariffs, Canadians are navigating a much more complicated mortgage landscape than they were even a year ago.
A new national survey* from TD finds that while most people surveyed feel somewhat informed about the process, many are still unsure how to move forward, especially as economic pressures and uncertainty around interest rates add complexity to every decision.
According to the survey, 90% of Canadians surveyed say they're somewhat familiar with the mortgage process, but more than a quarter say they don't fully understand what makes a mortgage affordable or how to lower their costs over time.
Even more telling, 23% say they were caught off guard by unexpected costs during the process. Even those who feel prepared can find themselves second-guessing big financial decisions, especially in today's climate of rising costs and unpredictable rates.
Why the bigger economic picture matters more than ever
Canadians are focused on the factors that matter most as they navigate an uncertain economic environment. While nearly all surveyed said a low mortgage interest rate is important (94%), they also placed strong value on renewal terms (90%), access to advice (88%), amortization periods (84%) and pre-payment options (84%).
These priorities show that Canadians are looking beyond just rates to ensure stability and flexibility in today's conditions.
Economic pressures are increasingly shaping Canadians' mortgage decisions. Nearly one-third (31%) of those surveyed say tariffs have affected their ability to borrow, while others point to the uncertainty prompting them to rethink their overall strategy (29%), switch lenders (28%), or even reconsider taking on a mortgage altogether (28%).
These findings highlight how global trends and local financial stressors are influencing how Canadians approach long-term planning.
When familiarity doesn't equal confidence
While Canadians may feel familiar with how mortgages work, many still don't feel confident in how to apply that knowledge or which option is right for their circumstances.
That uncertainty is amplified by how divided people are about what's next. The survey found that 32% of Canadians believe interest rates will rise in the next year, 27% think they'll fall and 29% expect them to hold steady. It's easy to see why Canadians may feel stuck, and why advice from a real person can make all the difference.
"In today's environment, there's no one-size-fits-all mortgage," says Patrick Smith, VP, Product Management, Real Estate Secured Lending at TD. "Even for people who feel informed, getting tailored advice can help cut through the noise and give them confidence in the decision they're making."
Support that meets you where you are
Whether it's your first time applying for a mortgage or you're re-evaluating your current one, getting clear, practical guidance can make the journey smoother. For Canadians looking to start the conversation, TD Mortgage Direct makes it easy to get matched with a specialist who can offer personalized support based on your goals and needs.
The national TD survey, conducted in May, reflects the responses of Canadian homeowners and prospective buyers navigating today's changing real estate landscape.
This content is for general informational purposes only and does not constitute financial, investment, legal, tax or accounting advice.