Autumn Insights: Is Now the Time to Re-evaluate Your Mortgage?
October 17, 2025 | Posted by: Keith Leighton
Autumn Insights: Is Now the Time
to Re-evaluate Your Mortgage?
As the leaves turn and Atlantic Canada moves into the heart of fall, many homeowners are taking a closer look at their finances. One question comes up often: Is now a good time to review my mortgage?
With interest rates showing signs of adjustment and lenders refining their policies, October is an ideal time to re-evaluate your mortgage strategy. Here is what homeowners and buyers should consider in the current market.
1. Watch for Interest Rate Trends from the Bank of Canada
The Bank of Canada continues to navigate between controlling inflation and supporting economic growth. Many experts expect the policy rate to adjust before year-end, which could affect both fixed and variable mortgage rates.
If you have a variable-rate mortgage, even a small drop in the Bank’s key rate could reduce your payments. Fixed-rate borrowers should also stay alert. Locking in a lower rate before markets shift again can help stabilize your long-term costs.
Keeping an eye on rate announcements and consulting your Ideal Mortgage broker can help you decide whether to act now or wait for further changes.
2. Consider Refinancing or Switching for Better Terms
Many Atlantic Canadians are reviewing their mortgages this fall to see if refinancing could bring savings or flexibility.
You might benefit from refinancing if:
• You originally secured your mortgage when rates were higher.
• Your home equity has increased.
• Your credit score or financial position has improved.
Refinancing does come with costs, such as penalties or legal fees, so it is important to calculate the break-even point which is the time it takes for your interest savings to cover those expenses. A professional Ideal Mortgage broker can prepare a detailed comparison to show whether refinancing or switching lenders is worth it.
3. Review Your Mortgage Renewal Options Early
If your mortgage term is ending within the next six to nine months, this is the perfect time to contact your Ideal Mortgage broker. Many homeowners automatically renew with their current lender, but it’s not recommend as that can mean missing out on lower rates or better terms.
By comparing renewal offers early, you give yourself time to secure a deal that fits your goals. Ask your Ideal Mortgage broker to help you review options from multiple lenders and determine whether an early renewal could lock in a more competitive rate.
4. Why Fall is a Smart Time for Home Buyers
If you are looking to buy a home in Atlantic Canada, the fall market offers several advantages.
• There is typically less competition, which gives you more leverage in negotiations.
• Sellers are often motivated to close before winter.
• Mortgage pre-approval strengthens your offer and shortens closing times.
Even though conditions may be favourable, it is important to plan for possible rate fluctuations. Ask your broker to calculate affordability using slightly higher interest rates to ensure your budget remains comfortable if the market shifts.
5. Questions to Ask Your Mortgage Broker This Season
Here are a few helpful questions to bring up with your broker this fall:
• Which lenders currently offer the most competitive mortgage rates in Atlantic Canada?
• Would refinancing or re-locking be beneficial in my current situation?
• How long would it take to recover any switching or refinancing costs?
• What renewal strategy fits the current rate environment?
• Can you prepare mortgage scenarios based on future rate changes?
Final Thoughts
October 2025 marks a season of change, both in the weather and the mortgage market. Reviewing your mortgage now can help you secure savings, reduce stress, and plan confidently for the year ahead.
Whether you are renewing, refinancing, or purchasing a home, the Ideal Mortgage team is here to guide you every step of the way. Let’s make sure your mortgage is working for you and not the other way around.
Contact Ideal Mortgage today for a personalized mortgage review tailored to your goals and the latest Atlantic Canada market trends.
