Mortgage Renewal Wave in Canada 2026
Canada’s mortgage renewal wave has arrived at its structural peak in 2026, and for the millions of homeowners who locked in ultra-low pandemic-era rates between 2020 and 2021, the reckoning is now unavoidable. Five-year fixed mortgages signed at rates as low as 1.3%–1.9% in 2020 and 2021 are expiring into a rate environment where the Bank of Canada’s policy rate has held at 2.25% since October 2025, and 5-year fixed mortgage rates sit in the 4.2%–4.6% range. The result is what economists and housing analysts have described as a “payment shock” — a sudden, material increase in monthly mortgage obligations for hundreds of thousands of Canadian households happening simultaneously, concentrated within a single 12-to-18-month window. According to CMHC’s Spring 2026 Residential Mortgage Industry Report, the renewal wave that dominated the mortgage market in 2025 is now beginning to dissipate, but the financial pressure it has created is far from resolved.
The scale of the 2026 mortgage renewal statistics for Canada is without modern precedent in terms of its concentrated impact. The Bank of Canada estimates that roughly 60% of all outstanding Canadian mortgages were expected to renew in 2025 or 2026 combined, with approximately 1.15 million mortgages renewing in 2026 alone — 13% fewer than the 1.2+ million that renewed in 2025, but still an enormous cohort facing materially higher interest costs. Residential mortgage debt crossed the $2.4 trillion mark in December 2025, up 4.8% year-over-year, as Canadians continue to carry more mortgage debt per household than any previous generation. The national 90-day mortgage delinquency rate reached 0.24% in Q4 2025 — the highest reading since 2019, though still below pre-pandemic levels — and CMHC forecasts it will continue rising moderately through late 2026, with the stress concentrated overwhelmingly in Toronto and, to a lesser extent, Vancouver.
Key Facts: Canada Mortgage Renewal Statistics 2026
| Fact | Data |
|---|---|
| Mortgages renewing in 2026 (CMHC estimate) | ~1.15 million |
| Mortgages renewing in 2025 | ~1.2 million+ |
| 2026 renewals vs 2025 (CMHC) | −13% fewer |
| Share of all outstanding mortgages renewing by end of 2026 (BoC) | ~60% |
| Share facing a higher rate at renewal by end of 2026 (BoC) | ~40% of all outstanding |
| Total residential mortgage debt (Dec 2025) | $2.4+ trillion |
| Year-over-year growth in mortgage debt (Dec 2025) | +4.8% |
| Total household credit market debt (Q1 2025) | $3.07 trillion |
| Household debt-to-disposable income ratio (Q2 2025) | 174.9% |
| Household debt service ratio (Q1 2026) | 14.75% |
| Average payment increase — 5-yr fixed renewing in 2026 | ~20% |
| Payment increase for highly leveraged borrowers (top ~10%) | Up to 40%+ |
| Bank of Canada policy rate (held since Oct 2025) | 2.25% |
| Bank of Canada prime rate | 4.45% |
| 5-year fixed mortgage rate (insured, Jan 2026) | ~4.2% (down from 4.8% Jan 2025) |
| 5-year fixed mortgage rate (insured, May/Jun 2026) | ~4.04%–4.60% (range) |
| Variable-rate mortgage share (chartered banks, Feb 2026) | 42% of extended mortgages |
| National 90+ day mortgage delinquency rate (Q4 2025) | 0.24% |
| Toronto CMA 90+ day delinquency rate (YoY change) | +45% year-over-year |
| Ontario 90+ day delinquency rate (YoY change) | +35% year-over-year |
| Pre-pandemic baseline delinquency rate (2018–19 avg) | 0.28% |
| Borrowers who renewed in past 12 months at below qualifying rate | Over 90% |
| Insured mortgages to first-time buyers (Q4 2025, chartered banks) | 54% (up from mid-40s%) |
Sources: CMHC, Spring 2026 Residential Mortgage Industry Report (May 12, 2026); Bank of Canada, Financial Stability Report 2026 (May 28, 2026); Bank of Canada Staff Analytical Note 2025-1, January 2025; Statistics Canada, National Balance Sheet and Financial Flow Accounts Q1 2026 (June 12, 2026); True North Mortgage / Bank of Canada — policy rate data as of June 10, 2026
The key facts behind Canada’s 2026 mortgage renewal statistics reveal a financial system under controlled but visible strain. On the positive side, the Bank of Canada’s data indicates that over 90% of borrowers who renewed in the past 12 months did so at rates below their qualifying rate — meaning the mortgage stress test has provided the cushioning effect regulators intended, ensuring most borrowers could handle the payment increase. On the negative side, the concentration of pressure in Toronto — where 90-day delinquencies are up 45% year-over-year — and among the roughly 17% of outstanding mortgage balances held by borrowers with large mortgage debt relative to income, is generating precisely the localised pockets of distress that CMHC warned about entering 2026.
What makes the 2026 renewal environment particularly complex is the divergence between national stability and local vulnerability. At the national level, the mortgage system is functioning — arrears remain well below pre-pandemic norms, most borrowers are making payments, and lenders are not recording broad rises in loan losses. But beneath the aggregate, the Greater Toronto Area’s arrears rate has roughly doubled over two to three years from around 0.13% to approximately 0.24%, representing the steepest year-over-year jump in over a decade. Meanwhile, the household debt service ratio climbed to 14.75% in Q1 2026, meaning Canadians are directing a growing share of their disposable income to debt repayment — a structural drag on consumer spending and economic growth.
Volume of Mortgages Renewing in Canada 2025–2026
Estimated Canadian Mortgage Renewals (millions of mortgages)
2021 (low-rate origin) |████████████████████████████████| peak origination year
2022 (renewals) |████████ | moderate
2023 (renewals) |█████████ | moderate
2024 (renewals) |████████████████ | rising
2025 (renewals) |████████████████████████████████| PEAK (~1.2M+)
2026 (renewals) |████████████████████████████ | ~1.15M (−13%)
2027 (renewals) |████████████████████ | easing further
|------+------+------+------+-----|
0 0.25M 0.50M 0.75M 1.00M 1.25M
| Year | Estimated Mortgages Renewing | Key Driver |
|---|---|---|
| 2024 | ~900,000–1,000,000 | 3-year terms from 2021 peak + 5-year from 2019 |
| 2025 | ~1.2 million+ | PEAK: 5-year fixed terms from 2020–21 low-rate era |
| 2026 | ~1.15 million | Ongoing 5-year fixed from 2021; 3-year from 2023 |
| 2027 onwards | Easing below 1M | Fewer pandemic-era originations reaching maturity |
| Share of all outstanding mortgages renewing by Dec 2026 | ~60% | Bank of Canada / OSFI RESL2 dataset |
| Share facing higher rate at renewal by Dec 2026 | ~40% of all outstanding | Bank of Canada estimate |
Sources: CMHC, Spring 2026 Residential Mortgage Industry Report (May 12, 2026); Bank of Canada Staff Analytical Note 2025-1 — “Using new loan data to better understand mortgage holders” (January 2025); CMHC 2026 Housing Market Outlook
The structure of the Canadian mortgage renewal wave is best understood by tracing it back to its origin. The 2020–2021 period saw an unprecedented surge in mortgage originations and refinancings, driven by the Bank of Canada’s emergency rate cuts that pushed the overnight rate to 0.25% and sent five-year fixed mortgage rates below 2.0% for the first time in Canadian history. Hundreds of thousands of buyers who might not have entered the market otherwise did so, and existing homeowners refinanced in enormous numbers. The five-year fixed rate — the most popular mortgage term in Canada, preferred by a majority of borrowers — meant that these originations would come due in a concentrated band between 2025 and 2026. The Bank of Canada estimated as early as January 2025 that about 60% of all outstanding Canadian mortgages would reach their renewal date by the end of 2026.
The 2025 renewal peak is now confirmed by CMHC data as the single largest renewal year on record. The 2026 cohort is 13% smaller — a meaningful reduction in volume — but the financial profile of 2026 renewers is nearly identical to those who renewed in 2025, since they largely represent borrowers who also locked in during the early-2021 low-rate window. CMHC’s Spring 2026 RMIR specifically notes that “borrowers renewing after a 5-year term are likely to face a similar interest-rate shock as those who renewed in 2025.” From 2027 onward, renewal volumes are expected to ease materially as the pandemic-era origination cohort is fully absorbed, providing meaningful relief to a mortgage market that has been under systemic strain for three consecutive years.
Canada Mortgage Rate Shock: Before vs After Renewal 2026
Rate Comparison: Pandemic-Era Origination vs 2026 Renewal (5-yr fixed, insured)
Rate at origination (2021 avg) |████ | ~1.7%–2.0%
Rate at renewal (Jan 2026) |████████████████████████| ~4.2%
Rate at renewal (May/Jun 2026) |████████████████████████| ~4.04%–4.60%
Effective rate gap |████████████████████ | ~2.2–2.6 percentage points
|----+----+----+----+-----|
0% 1% 2% 3% 4% 5%
| Rate Metric | 2020–2021 (Origination) | 2026 (Renewal) |
|---|---|---|
| 5-year fixed rate (insured), typical | 1.3%–1.9% | 4.04%–4.60% |
| 5-year fixed rate (uninsured), typical | 1.7%–2.2% | 4.40%–4.80% |
| Bank of Canada policy rate | 0.25% | 2.25% |
| Prime rate | 2.45% | 4.45% |
| 5-year GoC bond yield (Apr 2026 avg) | ~0.5% | 3.26% |
| Approx. rate increase at renewal | — | +2.0 to +2.6 pp |
| Average payment increase (5-yr fixed renewing) | — | ~20% |
| Payment increase — highly leveraged borrowers (~10%) | — | Up to 40%+ |
| Rate decline (Jan 2025 to Jan 2026) | — | 4.8% → 4.2% (down ~60 bps) |
Sources: Bank of Canada, Financial Stability Report 2026 (May 28, 2026); CMHC, Spring 2026 RMIR (May 12, 2026); nesto.ca Mortgage Rates Forecast 2026; True North Mortgage — Bank of Canada rate history
The rate shock facing Canadian mortgage renewers in 2026 is the defining financial event for a generation of homeowners who entered the market during the pandemic. A borrower who locked in a 5-year fixed mortgage at 1.7% in mid-2021 is now renewing into a market where the same product costs approximately 4.04%–4.60%, depending on lender and insured status. For a $500,000 mortgage balance, that rate differential translates to roughly an additional $400–$500 per month in interest costs — a materially significant household cash-flow adjustment. For higher-balance markets like Toronto and Vancouver, where average mortgage balances far exceed $500,000, the dollar-value shock is proportionally larger. A $720,000 mortgage balance transitioning from 1.7% to 4.2% represents a monthly payment increase of approximately $700–$900 — equivalent to a significant recurring new expense that most households did not budget for when purchasing.
It is important to contextualise that the rate environment has improved meaningfully from the worst period of mortgage renewal shock. In January 2025, five-year fixed rates were approximately 4.8%, meaning early-2026 renewers benefit from a roughly 60-basis-point reduction in the rate they face compared to those who renewed a year earlier. The Bank of Canada completed a 275-basis-point easing cycle from July 2023 to October 2025, cutting from 5.00% to 2.25%, and this has filtered through to lower variable and modestly lower fixed mortgage rates. Yet the 5-year Government of Canada bond yield remains elevated at around 3.26% — propped up by geopolitical energy price pressures and persistent global uncertainty — which explains why fixed mortgage rates have not fallen as far as the policy rate decline would suggest. As a result, the average 2026 renewer still faces a ~20% increase in monthly payments compared to their expiring contract.
National Mortgage Delinquency Rates in Canada 2022–2026
National 90+ Day Mortgage Delinquency Rate (%)
2022 (record low) |██ | 0.14%
2023 Q4 |███ | 0.18%
2024 Q4 |████ | 0.21%
2025 Q4 (latest) |█████ | 0.24%
Pre-pandemic avg |██████ | 0.28%
2019 (pre-COVID) |██████ | ~0.26%
|---+---+---+---+---+-|
0% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30%
| Period | National 90+ Day Delinquency Rate | Notes |
|---|---|---|
| 2022 (record low) | 0.14% | Post-pandemic trough, ultra-low rates |
| 2023 Q4 | 0.18% | Beginning of renewal-driven increase |
| 2024 Q4 | 0.21% | Renewal wave accelerating |
| 2025 Q4 (CMHC latest) | 0.24% | Highest since 2019; driven by Ontario/Toronto |
| Pre-pandemic average (2018–19) | 0.28% | Still below this level nationally |
| Toronto CMA delinquency rate (YoY change) | +45% YoY | Steepest increase in 10+ years |
| Ontario overall delinquency (YoY change) | +35% YoY | Ontario overtook national average |
Sources: CMHC, Spring 2026 Residential Mortgage Industry Report (May 12, 2026); Equifax Canada (via CMHC); Bank of Canada, Financial Stability Report 2026 (May 28, 2026)
The national 90+ day mortgage delinquency rate of 0.24% in Q4 2025 represents a system under pressure but not in crisis. The critical distinction CMHC and the Bank of Canada have repeatedly drawn is between the national aggregate — which remains below pre-pandemic norms — and the regional picture, which is considerably more concerning in specific markets. CMHC’s Equifax-based analysis describes arrears as rising “gradually rather than sharply” at the national level, and attributes this resilience in part to the mortgage stress test, which required borrowers to qualify at either 5.25% or their contract rate plus 2 percentage points — whichever was higher. As the Bank of Canada’s Financial Stability Report 2026 confirmed, over 90% of borrowers who renewed in the past 12 months did so at rates below their qualifying rate, meaning the stress test performed its intended buffering function. Some borrowers have also reduced payment shock by extending their amortisation period at renewal — about 70% of the roughly 10% of 2022 mortgage holders who have refinanced extended amortisation by an average of six years.
The regional divide in 2026 mortgage delinquency data is stark and worsening. Toronto’s 90-day arrears rate has more than quadrupled from post-pandemic lows and the year-over-year increase of +45% is the steepest single-year jump in over a decade. CMHC analysis identifies three intersecting pressures driving GTA vulnerability: unusually high mortgage balances relative to household income (a function of historically elevated Toronto home prices), a weakening Greater Toronto Area labour market that limits households’ ability to absorb payment increases, and softening resale liquidity that removes the emergency exit option of selling a home to cover payments. CMHC’s deputy chief economist Aled ab Iorwerth has stated clearly that “delinquency pressures in the GTA are expected to remain elevated throughout 2026.” By contrast, Montreal’s delinquency risk remains stable, driven mainly by consumer credit stress rather than housing market conditions, and the Atlantic, Quebec, and Prairie regions outside of Edmonton remain largely contained.
Mortgage Borrower Behaviour at Renewal in Canada 2025–2026
Variable-Rate Share of Extended Mortgages — Chartered Banks
Q1 2024 |█████████████████ | ~28%
Q3 2024 |███████████████████████ | ~33%
Q1 2025 |█████████████████████████████ | ~38%
Q3 2025 |███████████████████████████████ | ~40%
Feb 2026 |████████████████████████████████| 42% (most popular option)
|-----+-----+-----+-----+-----+--|
0% 10% 20% 30% 40% 50%
| Borrower Behaviour Metric | Data | Period |
|---|---|---|
| Variable-rate share of extended mortgages (chartered banks) | 42% | February 2026 |
| Variable-rate vs fixed: relative cost | Variable currently lower | 2026 |
| Borrowers shopping their renewal (CMHC data) | Over 56% | 2026 |
| Borrowers extending amortisation at renewal (~10% who refinanced) | ~70% | 2022 cohort study |
| Average amortisation extension at refinancing | ~6 years | Bank of Canada data |
| Insured mortgages to first-time buyers — Q4 2025 | 54% | Up from mid-40s% |
| Credit union renewal value increase (Q3 2024–Q3 2025) | +12% | CMHC RMIR |
| Uninsured credit union renewals (same period) | +13% | CMHC RMIR |
| High TDS ratio (above 45%) share of originations (Q2 2025) | 11% | Down from peak of 12% |
Sources: CMHC, Spring 2026 Residential Mortgage Industry Report (May 12, 2026); Bank of Canada, Financial Stability Report 2026; Bank of Canada Staff Analytical Note 2025-1
The behavioural response of Canadian mortgage borrowers in 2025–2026 reveals a market that has adapted pragmatically to rate reality. The most decisive shift is the surge in variable-rate mortgage adoption: by February 2026, variable-rate mortgages accounted for 42% of all extended mortgages at chartered banks, making them the single most popular option for renewing borrowers — a dramatic reversal from 2023, when the majority fled to fixed-rate products to lock in before further hikes. The appeal of variable rates in 2026 is twofold: they are currently priced below fixed rates given the policy rate at 2.25% and a prime rate of 4.45%, and they offer optionality — if the Bank of Canada were to resume cutting, variable-rate holders benefit immediately. The risk, acknowledged by CMHC and multiple economists, is that several major Canadian banks including Scotiabank now forecast potential rate hikes in the second half of 2026 due to energy inflation from the Middle East conflict, which would erode the variable-rate advantage.
The competition for renewal business has intensified across the lender landscape. With over 56% of renewing Canadian mortgage holders actively shopping their renewal rather than auto-renewing with their existing lender, the market for renewal business is highly competitive. This competitive environment has modestly suppressed the size of rate increases relative to what a passive auto-renewing borrower would face, and it has driven shorter-term fixed products to be priced very attractively — in May 2026, the 3-year insured fixed rate of ~4.09% sat within just 5 basis points of the 5-year insured rate of ~4.04%, a compressed term structure that signals lenders are competing aggressively for renewal volume at every term length. For borrowers who believe rates may fall further in 2028–2029, the near-identical pricing of shorter and longer terms makes a 2- or 3-year fixed product a rational strategy that provides stability now while preserving optionality for the next renewal.
Canada Mortgage Debt and Household Financial Stress in 2026
Canadian Household Financial Stress Indicators (2026)
Total mortgage debt (Dec 2025) |███████████████████████████████████| $2.4+ trillion
Total household credit debt |████████████████████████████████████| $3.07 trillion
Debt-to-income ratio (Q2 2025) |█████████████████████████████████ | 174.9%
Debt service ratio (Q1 2026) |██████ | 14.75%
Mortgage as share of total debt |████████████████████████████ | ~75%
|---------+--------+--------+--------|
(Illustrative scale by metric type)
| Financial Stress Indicator | Value | Period / Source |
|---|---|---|
| Total residential mortgage debt | $2.4+ trillion | December 2025, CMHC |
| Year-over-year mortgage debt growth | +4.8% | Dec 2024–Dec 2025 |
| Total household credit market debt | $3.07 trillion | Q1 2025, Statistics Canada |
| Household debt-to-disposable income ratio | 174.9% | Q2 2025, Statistics Canada |
| Household debt service ratio (principal + interest) | 14.75% | Q1 2026, Statistics Canada |
| Mortgage interest payments growth | +0.9% | Q1 2026 vs Q4 2025 |
| Mortgage share of total household debt | ~75% | Multiple sources |
| Household net worth | $17.9–$18.6 trillion | Q2–Q4 2025, Statistics Canada |
| Net worth per capita | $448,433 | Q1 2026, Statistics Canada |
| Share of borrowers in arrears with large mortgage-to-income ratio | ~17% of outstanding balances | Bank of Canada FSR 2026 |
Sources: CMHC, Spring 2026 Residential Mortgage Industry Report (May 12, 2026); Statistics Canada, National Balance Sheet and Financial Flow Accounts Q1 2026 (June 12, 2026); Bank of Canada Financial Stability Report 2026; Coldwell Banker Horizon Realty analysis of Statistics Canada Q2 2025 data
Canada’s $2.4 trillion residential mortgage market sits within a broader $3.07 trillion household debt ecosystem that makes Canadian households among the most indebted in the G7. The 174.9% debt-to-disposable income ratio as of Q2 2025 means Canadians owe $1.75 for every dollar of after-tax income — a ratio that has climbed relentlessly over two decades of low rates and rising home prices. The household debt service ratio of 14.75% in Q1 2026 — the share of disposable income consumed by scheduled principal and interest payments — edged higher after two consecutive quarterly declines, driven by mortgage interest payments growing 0.9% in Q1 2026 as renewal-driven rate resets feed through into actual payment increases. The Bank of Canada’s Financial Stability Report 2026 identifies the approximately 17% of outstanding mortgage balances held by borrowers with large debt relative to income as the highest-risk segment — these are the households most exposed to the combined pressures of payment shock, softening labour markets, and potential job losses from tariff-related economic disruption.
The counterbalancing force in the household balance sheet is substantial wealth accumulation. Household net worth reached $18.6 trillion by Q4 2025, and has grown for nine consecutive quarters, driven primarily by equity market gains and — until recently — real estate appreciation. On a per capita basis, net worth reached $448,433 in Q1 2026. However, this aggregate wealth figure conceals critical distributional realities: wealth is concentrated in older, property-owning households, while younger buyers who entered the market at peak prices in 2021–2022 hold thin equity cushions, large mortgage balances, and limited financial flexibility. It is precisely this cohort — pandemic-era, highly leveraged buyers who stretched financially to enter the market at historic prices — that CMHC’s 2026 analysis identifies as most vulnerable to the renewal wave, and who represent the primary driver of the delinquency increases observed in Toronto and Vancouver’s condominium markets.
Regional Mortgage Arrears Risk Across Canada in 2026
Regional 90+ Day Mortgage Delinquency Risk — CMHC Assessment (2026)
Toronto CMA |████████████████████████████████████| HIGHEST — arrears quadrupled from lows
Vancouver |████████████████████████ | HIGH — rising but slower than Toronto
Edmonton |███████████████████ | MODERATE-HIGH — labour market exposure
Calgary |████████████████ | MODERATE — oil sector sensitive
Ottawa |████████ | LOW-MODERATE — stable gov't employment
Winnipeg |███████ | LOW — credit utilisation driven
Halifax |████████ | LOW-MODERATE — smaller increases
Montreal |██████ | LOW — consumer credit stress, stable housing
|---+---+---+---+---+---+---+--------|
(Relative risk only — not absolute rate scale)
| Region | CMHC 2026 Risk Assessment | Primary Driver |
|---|---|---|
| Toronto CMA | Highest — delinquencies up 45% YoY | High balances, weak GTA labour market, softening resale |
| Vancouver | High — rising but slower than Toronto | High debt, softening resale, high carrying costs |
| Edmonton | Moderate-High | Labour market sensitivity to oil/tariff exposure |
| Calgary | Moderate | Oil sector employment; more diversified than Edmonton |
| Ottawa | Low-Moderate | Stable federal government employment base |
| Winnipeg | Low | Local credit utilisation; moderate housing costs |
| Halifax | Low-Moderate | Small market; housing costs lower relative to income |
| Montréal | Low / Stable | Consumer credit stress driver, not housing; tight market |
Sources: CMHC, “Mortgage Renewal Wave Strains Some Regions and Borrowers” (February 2026); CMHC, Spring 2026 Residential Mortgage Industry Report (May 12, 2026); Equifax Canada data (via CMHC)
The regional divergence in Canada’s 2026 mortgage delinquency data is the most important structural insight in the entire renewal wave dataset. CMHC’s February 2026 analysis is explicit: “As we turn the page to 2026, it’s important to note that the mortgage delinquency story is not so much a national one but a much more localised and concentrated one.” The GTA stands apart for three interconnected reasons that the national data obscures. First, mortgage balances are vastly larger in Toronto than in any other Canadian market — the average outstanding Toronto mortgage is multiples of what a comparable borrower in Winnipeg or Halifax would carry, meaning identical rate increases translate into far larger absolute payment shocks. Second, the GTA labour market has weakened materially compared to other major Census Metropolitan Areas, limiting households’ income-side ability to absorb payment increases. Third, resale market liquidity has deteriorated — particularly in the condominium segment — reducing the emergency release valve of selling to cover unaffordable payments.
The tariff exposure layer adds a new dimension of risk that CMHC highlighted explicitly in its 2026 analysis. Regions with high exposure to US tariffs — including parts of Ontario with automotive sector employment, BC forestry and manufacturing communities, and Alberta’s trade-sensitive industries — face the risk of job losses on top of payment shocks. CMHC deputy chief economist Tania Bourassa-Ochoa stated directly that “job losses are already evident in certain industries and regions heavily impacted by tariffs” and that the combination of employment disruption and mortgage payment resets could drive delinquencies beyond what the renewal wave alone would produce. In contrast, Montréal’s relative stability — despite Quebec having some of the highest average household debt-to-income ratios provincially — reflects the insulating effect of a tighter resale housing market that makes distressed selling less likely, and a more diversified economic base that has been less directly exposed to US tariff impacts.
Disclaimer: The data research report we present here is based on information found from various sources. We are not liable for any financial loss, errors, or damages of any kind that may result from the use of the information herein. We acknowledge that though we try to report accurately, we cannot verify the absolute facts of everything that has been represented.
