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Posted On: October 30th 2026, 10:04 pm
Your mortgage renewal letter is coming. Don't just sign it.
A lot of Ottawa homeowners locked in during the low-rate years, and those terms are ending. In CMHC's 2026 survey, about a third of renewers said they were feeling the squeeze, and their payments went up $375 a month, on average.
The Bank of Canada just raised its rate to 2.50%, its first increase since 2023. And coming off a rock-bottom rate, renewal already meant a bigger payment. Now there's more reason to shop it.
The play: start about four months out, because many lenders let you hold a rate that far ahead. Compare your lender's offer with what a mortgage broker can find. And ask about options like adjusting your amortization. It can ease the monthly payment, but it costs more over time.
That letter is an offer, not a requirement. Want an introduction to a broker we trust? yourhomeinottawa.ca
Source: CMHC 2026 Mortgage Consumer Survey. BoC rate as of Oct 28, 2026. Not mortgage advice.
The Campbell-Maric Group | eXp Realty, Brokerage
#OttawaRealEstate #MortgageRenewal #OttawaHomeowners #OttawaHomes #YourHomeInOttawa
A lot of Ottawa homeowners locked in during the low-rate years, and those terms are ending. In CMHC's 2026 survey, about a third of renewers said they were feeling the squeeze, and their payments went up $375 a month, on average.
The Bank of Canada just raised its rate to 2.50%, its first increase since 2023. And coming off a rock-bottom rate, renewal already meant a bigger payment. Now there's more reason to shop it.
The play: start about four months out, because many lenders let you hold a rate that far ahead. Compare your lender's offer with what a mortgage broker can find. And ask about options like adjusting your amortization. It can ease the monthly payment, but it costs more over time.
That letter is an offer, not a requirement. Want an introduction to a broker we trust? yourhomeinottawa.ca
Source: CMHC 2026 Mortgage Consumer Survey. BoC rate as of Oct 28, 2026. Not mortgage advice.
The Campbell-Maric Group | eXp Realty, Brokerage
#OttawaRealEstate #MortgageRenewal #OttawaHomeowners #OttawaHomes #YourHomeInOttawa
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