09/29/2023
Leah Zlatkin, a mortgage broker and expert with LowestRates.ca, said mortgage owners should pre-emptively reach out to their lender to understand their options at renewal.
“If they're offering you a rate, they're probably offering you a rate that's going to be the highest that you're going to find in the industry at renewal because they can, because they know that it's a lot more work and potentially people aren't going to qualify to go elsewhere.”
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https://www.bnnbloomberg.ca/how-can-mortgage-owners-prepare-for-higher-rates-at-renewal-1.1973471
Now well into the Bank of Canada’s interest rate hiking cycle, many mortgage owners have yet to feel the full effect of higher interest rates.