DAE almost spit out their coffee when the mortgage renewal offer came in at 6.89%?

Xena Martinez · 2026-09-19T00:00:03.336133+00:00

Got our renewal letter from the bank for our place in Brampton and the rate jumped from 2.14% to 6.89%. That number works out to about $1,100 more every month, which is basically our entire grocery budget gone. I sat at the kitchen table with a calculator for an hour just staring at it. Called the bank and the guy basically shrugged and said take it or shop around, so now I am calling a broker. Has anyone actually negotiated these down or switched lenders without getting slammed with fees?

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DAE almost spit out their coffee when the mortgage renewal offer came in at 6.89%? | Canadian Housing Chat - Guest Forum