The Playbook // 002

⏰ For many, the renewal countdown is on! Have you received your renewal letter yet?

Author

Andrew Ladriere
February 27, 2025

It’s February 27th, 2025, and for millions of Canadians, the reality of mortgage renewals is setting in. If your renewal is coming up in the next few months, you’re probably staring at your bank’s offer, wondering: Is this really the best I can get?

The truth? Banks are hoping you’ll just sign the first renewal offer they send. No questions asked. No shopping around. But with mortgage rates shifting and lending rules changing, locking into the wrong deal could cost you thousands over the next few years.

The Stress Is Real—But You Have Options

If you’re feeling uncertain, you’re not alone. The mortgage renewal process can be overwhelming—especially when the media is full of conflicting advice. Will rates keep dropping? Should you go fixed or variable? Is now the time to refinance?

With interest rates fluctuating and economic conditions evolving, you really can’t be blamed for feeling all sorts of ways about it... A recent survey found that more than half of homeowners expect their monthly payments to increase upon renewal, with 22% anticipating a significant rise.

The problem is, fear, uncertainty, and doubt (FUD) can lead to rushed decisions—or worse, no decision at all. And that’s exactly what the banks want.

Instead, take a deep breath. The good news is that you’re in control. By talking to a mortgage broker early, you can turn renewal stress into a strategy—one that works in your favor, not the bank’s.

When is your mortgage renewal?

Are you one of the nearly 50% of Canadians Renewing this year?

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🔥 Hot Reads for This Issue:

  1. Renewing Your Mortgage – Government of Canada Guidelines
    Official advice on how to approach your mortgage renewal.

    canada.ca

  2. Canadians Facing Mortgage Renewal Anxiety About Monthly Payments
    Insights into current homeowner sentiments and financial expectations.

    globalnews.ca

Your Next Move

If your renewal is this year, don’t wait until the last minute. The best deals often require a bit of planning—whether that’s holding a rate, exploring new lenders, or structuring your mortgage to fit your long-term financial goals.

💡 Pro Tip: Even if your renewal isn’t until fall, starting the conversation now puts you in the driver’s seat. Let’s get ahead of the banks and make sure your next mortgage works for you, not just them.

Until next time,

–Andrew