More than 20% of Canadian mortgage holders are set to renew their mortgage within the next 12 months, according to Mortgage Professionals Canada. For many, that means coming out of the ultra-low rates secured during the pandemic — and stepping into a very different rate environment.
The good news?
With the Bank of Canada lowering its overnight rate to 2.25% and inflation easing, we’re finally starting to see early signs of relief. Both fixed and variable mortgage rates have been trending down, offering more competitive options than we saw earlier in the year.
Fixed rates, which move with the bond market, continue to drift downward. While global events can cause markets to shift quickly, anyone renewing in late 2025 or early 2026 is entering a much more optimistic landscape than we’ve seen recently. That makes planning ahead — and reviewing your options — more important than ever.
Thinking About Buying? Now Is the Time to Get Pre-Approved
If you’re considering buying in 2025 or 2026, this is a strategic moment. As rates continue to ease, buyers who get pre-approved now can lock in an advantage.
A pre-approval or rate hold can:
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Lock in today’s rates for up to 120 days
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Help you shop with confidence by knowing your budget
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Allow you to move quickly when the right home hits the market
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Give clarity on your future monthly payments
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Strengthen your offer — sellers prefer pre-approved buyers
If purchasing is on your radar for 2026, a simple pre-approval today can give you stability, clarity, and leverage when you need it most.
Is Your Mortgage Renewal Coming Up? Don’t Sign Too Quickly
When your renewal notice lands in your inbox, it’s tempting to accept your lender’s offer and move on — but that quick signature can cost you thousands over the next term.
Here’s what most homeowners don’t realize:
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You’re never required to take your current lender’s first offer.
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Many lenders send their highest offer first, hoping you’ll accept it without question.
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You may be able to switch lenders without re-qualifying under the Stress Test, depending on your situation.
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A renewal is a perfect opportunity to make sure your mortgage still fits your financial goals.
During renewal, you may be able to:
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Negotiate a more competitive rate
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Adjust your term for greater flexibility
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Switch from fixed to variable or vice versa
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Use your equity for renovations, debt consolidation, or investments
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Improve your monthly cash flow with the right strategy
You don’t have to evaluate these decisions alone. I can compare offers across multiple lenders, secure a rate hold while you explore options, and help you choose a structure that supports your long-term financial plan — not one that adds unnecessary costs.
Before you sign your renewal, it’s worth taking a second look.
Let’s Build Your 2026 Mortgage Strategy Together
Whether you’re:
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Renewing your mortgage,
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Planning a future purchase, or
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Trying to understand how changing rates affect your budget,
this is the right time to get ahead of the curve.
The guidance you get today will shape your financial outcomes tomorrow.
Reach out anytime — I’m here to help you navigate your next mortgage chapter with clarity and confidence.
At TopRankinMortgages, we help you navigate this steady (and familiar) market with clarity and confidence. No stress, no pressure—just smart mortgage guidance when you need it.
Have questions about how this affects your mortgage? Let’s chat!
