The Financial Post reports in its Wednesday edition that Royal Bank of Canada chief executive officer Dave McKay said 60 per cent of the bank's mortgage holders will renew at lower rates in 2025. The Post's Naimul Karim writes that for those who will renew at higher rates, he said 80 per cent will meet the requirements of the industry's mortgage payment stress test, which means they can manage to make higher payments. These numbers do not imply that Canadians are not struggling with their payments now, Mr. McKay said, but the risk of not being able to absorb higher mortgage payments has come down. "When we look at the cohorts that have higher payments, look at the overall payment shocks, it has decompressed significantly," he said at an RBC-sponsored bank CEO conference in Toronto on Tuesday. TD Bank's chief operating officer Raymond Chun said about a third of the mortgages coming up for renewal in 2025 and 2026 were also renewed in the past few years. "People had renewed into short term -- one year, two years -- anticipating interest rates coming down," he said. "Not everybody is actually renewing at higher rates. A third of the renewals are actually probably renewing from higher rates ... down to lower rates."