Mortgage Blog
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Is Your Mortgage Renewal About to Shock You?
November 5, 2025 | Posted by: Angela Robinson
Over the next two years, many Canadians will face a major jump in mortgage payments — and for some, the increase will be more than they can comfortably afford.Here’s what you need to know:
- Most renewals in 2025–2026 will see payments rise 15–20%
- About 1 in 10 homeowners may see increases up to 40%
- Most renewals in 2025–2026 will see payments rise 15–20%
- About 1 in 10 homeowners may see increases up to 40%
With many Canadians living paycheque-to-paycheque, even a 15% jump can strain budgets — or force big decisions like downsizing or renting.
What You Can Do NOW to Reduce Renewal Shock
What You Can Do NOW to Reduce Renewal Shock
Calculate your “shock number.”
See what your payment would be with a 10–20% increase so you can plan ahead.
See what your payment would be with a 10–20% increase so you can plan ahead.
Don’t accept the first offer.
Banks expect you to sign their renewal letter. Shopping around or working with a broker can save you thousands.
Banks expect you to sign their renewal letter. Shopping around or working with a broker can save you thousands.
Consider adjusting your amortization.
Lower monthly payments may help you stay afloat (though it could increase total interest).
Lower monthly payments may help you stay afloat (though it could increase total interest).
Build a cushion.
Use bonuses, side income, or tax refunds to prepare for higher payments.
Use bonuses, side income, or tax refunds to prepare for higher payments.
Explore early refinancing if rates drop.
It could save you money — just be sure to weigh penalties vs. savings.
Feeling uncertain about your upcoming renewal?
It could save you money — just be sure to weigh penalties vs. savings.
Feeling uncertain about your upcoming renewal?
You don’t have to navigate this alone. At Alberta Mortgage Professionals, we’ll review your renewal, compare options, and help you avoid payment shock wherever possible.
Contact us today to get started — it can make all the difference.
