Mortgage Renewal Challenge

Over the next two years, more than 4 million mortgages—around 60% of all outstanding mortgages—are set to renew.  A large share of these mortgages haven't come up for renewal since interest rates began rising in 2022. Even with recent rate declines, most borrowers will likely face noticeably higher payments. 

Higher payments could lead households to cut back on spending more than anticipated, potentially slowing the economy. They could also create financial stress for borrowers and result in losses for lenders and mortgage insurers.

If your mortgage is coming up for renewal, don’t wait until the last minute to explore your options. Starting early gives you a better chance of securing a favourable outcome. Reach out to me, and I’ll help you review and compare the available options. I have developed a new mortgage strategy called the "Cascade Mortgage," and this uses an existing mortgage product in a way most lenders did not see their mortgage being used. It creates the opportunity to lock in to a fixed rate but readjust 15 to 20 percent of the mortgage to a lower rate during the term without cost. This is what I would call, "An Advanced Mortgage Strategy" and I have a full tutorial to explain how it works.