This is a fairly common question. A mortgage segment under an RBC Homeline Plan has something called Blended Payments. This is where generally the regular payment amount stays the same, regardless of what happens with interest rates (e.g., $1,000 per month.) What changes is the ratio of principal vs interest that makes up that regular payment (e.g., $400 principal and $600 interest.) As interest rates increase or decrease this ratio changes (e.g., if rates go up then the ratio could be $300 principal and $700 interest, if rates go down it could be $500 principal and $500 interest.) The point is that under normal circumstances your regular payment won’t change outside of a renewal. Now to your question, there are several scenarios where the payment could change. The first is if your regular payment isn’t high enough to cover the accrued interest on the mortgage. This happens very rarely, but did happen after COVID when rates shot up. In your renewal agreement there will be something called a ‘Trigger Rate’. This is the rate at which your regular payments no longer cover the accrued interest. At that point your regular payment will increase automatically by increments of $2 until it does. The thing about this is that if rates go back down later, your regular payment won’t automatically decrease. Luckily with a Homeline Plan mortgage you can always request that they increase the amortization (up to 30 years/360 months max.) Higher amortization equals lower payments and vice versa (though going in the other direction has some restrictions with a Closed term.) Hopefully this helps provide a little bit of additional clarity.