The Myplace Playbook // 042

Hey Everyone,

You know that feeling when you get a bill you're nervous about opening? So you put it on the counter and walk past it a few times. Then you open it, and realize avoiding it didn't make the problem smaller. It just made you lose sleep.

That's where 1.9 million Canadians are right now. 750,000 mortgages came up for renewal in the last six months of 2025, with another 1.15 million expected in 2026. And many are choosing not to look.

Despite recent rate cuts, 60% of renewing borrowers face payment increases averaging 10% higher than December 2024. That's not worst-case, that's most likely. Someone with a $500,000 mortgage might see their payment jump from $2,400 to $2,640 or more.

81% of those expecting higher payments anticipate financial strain. Half are planning to cut discretionary spending; a third are cutting essentials like groceries.

But here's what's striking: most people are hoping that if they don't think too hard about it, it won't hurt as much when it happens.

It will. Whether you look or not.

When you avoid the renewal, you're not avoiding the problem. You're avoiding your options.

Your lender sends a renewal offer. You don't shop around. You don't talk to anyone. And suddenly, you're three weeks from the deadline with no alternatives explored. So you do what 76% of people do: sign with your current lender because it's easiest.

But here's what most don't know: that opening offer is often not their best rate. Why would your lender offer you their best rate if you haven't asked?

Half a percent higher on a $500,000 mortgage renewal?
That’s about $12,000 in extra interest over five years.
Gone. Because you didn’t want to look.

And you're locked in for another five years feeling like something was done to you, not something you chose.

Here's the good news: research shows homeowners who engage early report significantly lower stress and better outcomes. They're not more stressed because they found out the truth, they're less stressed because they have a plan.

Your payment is likely going up. That's real. But what's also real: you might find a lower rate than your lender's opening offer. You might find a different lender with a better option. You might discover that adjusting amortization or payment frequency actually helps you sleep at night.

But none of that happens if you keep your eyes closed.

What you gain by looking: peace of mind. Not false comfort, real peace from knowing you did what you could to put yourself in the best shape possible.

What you lose by not looking: thousands of dollars, compounding stress, and the knowledge you could have done better.

If your renewal is coming in 2026, call me and I'll help you to:

You're one of 1.9 million Canadians facing a mortgage renewal. The payment increase is coming whether you acknowledge it or not.

But whether you're prepared, whether you've found the best option, whether you made an informed choice, that's entirely up to you.

The scary thing isn't facing the number. The scary thing is not knowing it's coming. But the moment you know, you're no longer a victim of the renewal wave. You're someone steering their own ship.

So look. Today. Not tomorrow. And then you can stop worrying and start planning.

Because the only thing worse than a payment increase you knew was coming is one that catches you off-guard.