There is always a lot of variability in the numbers generated by the economists looking at all the provincial economies in the country so this is an interesting time of year – it’s when the banks and other agencies issue their quarterly reports.
The latest to release their data is CIBC Capital Markets which has Saskatchewan pretty much in the middle of the pack.
It suggests we’ll see expansion of 2.1-percent this year. That ranks fifth on their listing. We move up to fourth next year and then sixth in 2027.
But that’s not the headline in their report. That is saved for residential real estate.
2026 is going to be the big year for mortgage renewals… or perhaps more accurately mortgage renewal shock when old low-rate mortgages mature and are replaced by higher debt servicing payments. CIBC Capital Markets says two-percent of borrowers reset their mortgages this year. That number will triple in 2026 with some seeing payments rise by 40-percent.
The bank is raising the prospect of Ontario home owners finding themselves owing more than their house is worth after renewal.
