Monthly vs. Biweekly Mortgage Payments: Which Is Better?

Amelia Mcleod • September 23, 2026

How Mortgage Payment Frequency Affects What You Pay Over Time

You’ve probably heard the saying that there are two certainties in life: death and taxes.
When it comes to your mortgage, there’s really just one certainty—you’ll repay what you borrow, plus interest.

What is flexible, though, is how often you make your mortgage payments. And that choice can have a meaningful impact on how quickly you pay down your mortgage and how much interest you pay over time.


The Six Mortgage Payment Frequencies

Most lenders offer the following payment options:

  • Monthly – 12 payments per year
  • Semi-monthly – 24 payments per year
  • Bi-weekly – 26 payments per year
  • Weekly – 52 payments per year
  • Accelerated bi-weekly – 26 payments per year
  • Accelerated weekly – 52 payments per year


Standard Payment Frequencies

The first four options are designed to align with how you get paid.

For example:

  • Paid monthly? Monthly mortgage payments may make sense.
  • Paid every two weeks? Bi-weekly payments can align nicely with your cash flow.

With these standard options, regardless of how often you pay, the total amount paid over the year is the same—it’s simply divided into more frequent payments.


What Makes “Accelerated” Payments Different

Accelerated payments work differently—and this is where the real savings happen.

With accelerated bi-weekly or accelerated weekly payments, you’re paying a slightly higher amount each time. That extra money goes directly toward reducing your mortgage principal, which lowers the interest you’ll pay over the life of the mortgage.


A Simple Example

Let’s assume a $1,000 monthly mortgage payment:

  • Monthly:
    $1,000 once per month = $12,000 per year
  • Semi-monthly:
    $500 twice per month = $12,000 per year
  • Bi-weekly:
    $1,000 × 12 ÷ 26 = $461.54 every two weeks = $12,000 per year
  • Accelerated bi-weekly:
    $1,000 ÷ 2 = $500 every two weeks =     $13,000 per year


With accelerated bi-weekly payments, you effectively make two extra payments per year without having to think about it. Those extra payments reduce your principal faster, which lowers interest costs over time.

Accelerated weekly payments work the same way—you just make smaller payments more frequently.


Why This Matters Long Term

While it’s difficult to calculate exact savings due to variables like interest rates, terms, and amortization changes, maintaining an accelerated payment schedule over the life of your mortgage can reduce your amortization by up to three years and save a significant amount of interest.


The Bottom Line

Accelerated payments are a simple, automatic way to lower your overall cost of borrowing—without needing to make lump-sum payments or drastically change your budget.

If you’d like to see how different payment frequencies would impact your mortgage specifically, feel free to reach out anytime. I’d be happy to walk through the numbers with you and help you choose the option that fits your goals.

Bank of Canada Raises Rate to 2.5% — October 28, 2026

By Amelia McLeod • October 28, 2026
On October 28, 2026, the Bank of Canada raised its key interest rate by 0.25%, bringing it to 2.5%. If you have a mortgage, are shopping for a home, or have a renewal coming up, this decision matters. Here is a plain-language look at what changed, why it happened, and what it could mean for you.

What You Need to Know About Porting a Mortgage When Moving

By Amelia Mcleod • October 21, 2026
Porting Your Mortgage: What You Need to Know Before You Rely on It Porting a mortgage means transferring your existing interest rate, remaining term, and outstanding balance from your current home to a new one when you sell and buy again. While some lenders—especially big banks—make porting sound simple, the reality is that porting a mortgage is often complex and far from guaranteed . It’s not a magic solution, and it doesn’t mean you automatically get to keep your old mortgage on your new home. In many ways, porting a mortgage feels like applying for a brand-new one—often with more conditions . Here’s why. 1. You Still Have to Re-Qualify Even though you already have the mortgage, the lender will reassess you. If you: Changed jobs Moved to a new city Are on probation Switched industries or income types …the lender may decline the port. Your previous approval does not carry over automatically. 2. The New Property Must Be Approved The lender also reassesses the new property . Just because they accepted your previous home as collateral doesn’t mean they’ll approve the next one. Expect: A new appraisal A review of the property’s condition Scrutiny around marketability and value If the lender isn’t comfortable with the property, the port can fail. 3. Property Values Rarely Line Up Perfectly Most moves involve a price difference. Buying a more expensive home: You’ll likely need additional funds at a blended rate, which can increase your payment. Buying a less expensive home: You may face a penalty for reducing the mortgage balance. Either scenario can affect your costs. 4. You Still Need a Down Payment Porting doesn’t mean you “swap houses” without cash. You still need: A down payment on the new purchase Closing costs Funds available at the right time This often surprises buyers. 5. Penalties Usually Still Apply (At First) Most lenders: Charge the full mortgage penalty when you sell Refund it only after the port is successfully completed If you’re relying on sale proceeds for your down payment, this temporary penalty can create a cash-flow issue. 6. Timelines Rarely Line Up Perfectly Real estate markets don’t cooperate. You might: Sell quickly but struggle to buy Find a home quickly but wait months to sell Closing dates rarely align, which complicates porting even further. 7. Port Periods Vary by Lender This is where the fine print matters. Depending on the lender, the port window may be: Same day only 30 days 90 days Up to 6 months If the port window is short, both transactions must close within that timeframe—or the port fails. Longer port periods offer flexibility, but also carry the risk of selling first and not finding a replacement property in time. The Bottom Line Porting your mortgage can make sense—especially if you have a strong rate and are buying a similar-priced home. But it is not guaranteed , and it comes with conditions, risks, and timing challenges. Portability is a feature, not a promise. Before you rely on it, it’s important to review all your options , including whether staying with your lender actually makes financial sense. If you’re planning to sell and buy, I’d be happy to walk you through the process, explain your options clearly, and help you decide whether porting is the right move—or if another strategy makes more sense.