Are you nearing retirement and still paying off your mortgage? You’re not alone.
A new Royal LePage survey, conducted by Leger, reveals a shifting financial reality for Canadians on the cusp of retirement. Nearly three in 10 Canadians (29 per cent) planning to retire in the next two years say they’ll still be making mortgage payments when they leave the workforce, with almost half (47 per cent) saying they don’t intend to downsize their homes.
Statistics Canada data also shows that the average retirement age in the country has gradually increased, up to 65.3 in 2024 compared to 64.3 in 2020.
Are you approaching retirement with mortgage debt still on the books? Are you planning to stay in your current home, or are you considering a move to a smaller space?
Whether you’ve made your move, are in the midst of planning, or are trying to figure it all out, we want to hear from you.
Share your story by emailing us at dotcom@bellmedia.ca with your name, general location and phone number in case we want to follow up. Your comments may be used in a CTVNews.ca story.
The online survey of 1,626 Canadians aged 18 and up was conducted between May 2 and May 4, 2025, using Leger’s online panel that has approximately 400,000 members nationwide and a 90 per cent retention rate.
