In 2026, about 1.15 million Canadians hit renewal, but the bigger danger is many will be TRAPPED because their home value dropped and their loan to value may be above 80%, meaning they cannot switch lenders even with perfect payment history. Banks track your equity, so if you are trapped, your negotiating power disappears and refinancing or HELOC plans can get blocked or reduced. The fix is to check your current value and loan to value early, talk to a broker 6 months ahead, and consider options like alternative lenders, product changes, or extending amortization to manage payment shock.