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Mortgage Renewal: High Interest Rates in 2026 - Gatineau Vat
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According to the Bank of Canada, approximately 60% of mortgages in the country will have to be renewed in the next year. For one third of homeowners, mortgage payments are likely to increase, as they will have to sign at a much higher rate than they had been able to obtain during the pandemic. For example, for a mortgage on a median residence in Gatineau of $450,000, amortized over 20 years, a 2 to 4% rate is a monthly increase of $444. A good c…
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