Your Mortgage Renewal Is Coming Up—Here’s How to Save More

If your mortgage is up for renewal within the next 6 months, the Bank of Canada’s recent rate cut is your golden opportunity to secure better terms and save money. With rates dropping from 6.25% to 4.25%, this is the perfect time to explore your options and lock in savings before your renewal date.

Why This Rate Cut Matters for Your Renewal

1. Lower Monthly Payments
   Mortgage rates have significantly decreased, allowing you to renew at a lower rate and reduce your monthly expenses.
   
   Example:
   Alex, a homeowner with a $500,000 mortgage, was paying 5.25%. At renewal, they secured a new rate of 4.25%, saving approximately $301 per month—that’s $3,616 annually!
2. Lock In Before Rates Change
   Interest rates are trending down, but the market can shift. Renewing early at today’s lower rates ensures you’re protected against potential increases.
3. Maximize Your Financial Flexibility
   Use your renewal as an opportunity to adjust your mortgage terms:
   • Switch to a lower interest rate to save money.
   • Access equity for renovations, debt consolidation, or major life goals.
   • Choose terms that better fit your current financial situation.

How to Make the Most of Your Renewal

• Start Early
  Don’t wait until your renewal date. Lenders often allow you to renew up to 120 days in advance, giving you time to secure the best rate.
• Explore Competitive Rates
  We’ll help you compare offers and ensure you’re getting the most favorable terms available.
• Use Tailored Tools and Resources
  Access our calculators, guides, and expert advice to make an informed decision that saves you money.

Why Act Now?

Renewing your mortgage isn’t just a necessity—it’s an opportunity to save more and secure your financial future. By acting early, you can lock in today’s lower rates and avoid missing out on this historic moment.

Ready to Save on Your Renewal?
Let’s work together to ensure your mortgage renewal is simple, stress-free, and financially rewarding.