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Mortgage renewal

If you have four months until your current mortgage’s maturity date, most lenders will now allow you to begin the early mortgage renewal process, if necessary. Before making a decision, visit the pages below to learn about the different ways you can try to find a better rate or a different lender without paying extra fees. Use our Renewing Guide to find out more about how the process works, what you should do if your renewal is denied, and when to consider switching mortgage providers.

In the current mortgage environment, both fixed and variable rates are elevated. However, experts are predicting that the Bank of Canada will be carrying out rate cuts in the latter part of 2024 and into 2025. Given the prospect of lower mortgage rates on the horizon, you might want to think about how to take advantage of the situation. Have a look at the helpful video below, then scroll down for more information on renewing your mortgage. 

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