Here are my thoughts on the significant wave of mortgage renewals ahead of us in 2026: • The upcoming wave of renewals is very much on my radar.
• A roughly 20% decline in real estate values from recent peaks has pushed loan‑to‑value (LTV) ratios higher, no doubt making some renewals more challenging.
• That said, I expect policymakers, lenders, and borrowers to work together to manage this, including flexibility on LTVs for borrowers who remain current and have stable employment.
• While not risk‑free, to be sure, a “pretend and extend” approach is likely to prevail and remain the path of least resistance in a still difficult real estate context. (excerpt from discussions held earlier this quarter)
DISCLAIMER This communication is for information purposes only and does not constitute solicitation of an offering of any security, product, service or investment fund. Readers should always carefully read any related offering document prior to considering any investment of any kind, including a complete description of the associated risk factors.
