The Globe and Mail reports in its Friday edition that lower interest rates could prod Canadian banks into a mortgage competition next year as the cost of borrowing drops and swaths of fixed-rate loans come up for renewal. The Globe's Stefanie Marotta writes that the big lenders report earnings for the industry's fiscal year ended Oct. 31 next week, and analysts expect the fourth quarter could be the final slump in a year of muted loan growth. With more than half of all Canadian mortgages renewing in 2025 and 2026, the changing landscape could thrust the country's banking sector into a mortgage war. A wave of home buyers made their purchases at historically low interest rates early in the COVID-19 pandemic. Since the Bank of Canada started slashing rates in June, the mortgage market outlook for next year has shifted. "Although payment shock is declining, a significant proportion of mortgagors will still have higher mortgage payments -- creating a strong incentive to shop around for the lowest available mortgage rate," RBC analyst Darko Mihelic said in a note to clients. High interest rates have dampened loan growth over the past year, he said, and, "The chance to grab market share from a competitor is significant."