When the time comes to renew your mortgage, it’s best to do it as soon as possible so you can benefit from a guaranteed rate, regardless of market fluctuations.

If you start the mortgage renewal process up to 6 months before your maturity date, your advisor will be able to determine the best possible rate for you. 

Choose one of these two options:

• Renew early, up to 4 months before the end of your term (with no penalty) to take advantage of market rates. If market rates are lower than what you’re currently paying, it’s usually better to renew early. In such a case, your new conditions will take effect immediately, starting with your next payment.
• Protect your rate, up to 6 months before the end of your term. If market rates are higher than what you’re currently paying, it’s usually better to wait until the end of your current term before renewing. If rates rise, your rate is protected. If rates fall, you can adjust your rate downwards before maturity.

To discuss the options and find the one best suited to your situation, schedule an appointment with your advisor by calling 1-888-835-6281.

Good to know

You will receive a mortgage renewal notice at least 21 days before the end of your term.