Is it almost time to renew your mortgage vows?

If you have a mortgage where the term expires in the next year to year and a half, NOW is the time to start planning for it.

If you’ve previously renewed your mortgage back when rates were more stable, you may have had a call from your lender ninety to one hundred fifty days before the renewal date.

In today’s escalating rate environment, lenders are more likely to offer you limited terms ( 5 years and perhaps 4 years ) within a few weeks of your renewal date, with only a very very short time to accept the offer. In some cases, clients have reported being given only one day to decide.

It’s important to engage with your mortgage broker and plan, now, what happens next year. The closer you get to the renewal date the fewer options you have and ultimately, less control.

Give me a call anytime if I can help.