Millions of Canadian mortgages are renewing at different rates than they started with. Whether rates are up or down, renewal is your best opportunity to negotiate, with no penalty to switch.
Your renewal checklist
- Mark your maturity date and start 4–6 months before it.
- Get a broker rate comparison across 50+ lenders.
- Lock in a rate hold (up to 120 days) to protect against increases.
- Review your goals: pay off faster, lower payments, access equity or consolidate debt.
- Compare features: prepayment privileges, portability and penalty calculations.
- Don’t sign early without comparing. Your lender’s first offer is rarely its best.
Ready? Start a free renewal review.