Hey homeowners! If your mortgage renewal is coming up, you might be wondering how Canada’s affordability crisis is going to impact your options. The good news? You still have choices! Let’s talk about how to navigate your renewal like a pro—even in today’s tough market.
What’s Happening with Housing Affordability?
With rising interest rates and sky-high home prices, many Canadians are feeling the squeeze. Lenders are tightening their requirements, and monthly mortgage payments are increasing. But don’t panic—there are ways to make your renewal work for you.
What to Consider When Renewing Your Mortgage
Start Shopping Early – Don’t wait until the last minute! Lenders may offer better deals if you start looking 4–6 months before your renewal date.
Negotiate Like a Pro – Your lender’s first offer isn’t always the best. Work with a mortgage broker (like me!) to explore all your options.
Consider Refinancing for Cash Flow – Need to free up some cash? Refinancing could help you consolidate high-interest debt or lower your monthly payments.
Fixed vs. Variable—What’s Right for You? – With uncertainty in the market, choosing between a fixed or variable rate is a big decision. Let’s find the best fit for your financial goals.
How a Mortgage Broker Can Help
Banks will only offer you their own products, but as a mortgage broker, I have access to multiple lenders—including some that might have better rates or terms for your situation. More options = more savings!
Let’s Make a Plan!
Your mortgage renewal is an opportunity, not a burden. Let’s chat and find the best strategy to keep your payments manageable and your financial future bright.
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