6 common mistakes homeowners make when it’s time for mortgage renewal — and how to avoid them

Many Canadian homeowners miss key opportunities during mortgage renewal by waiting too long, not shopping around, or focusing only on interest rates. It's important to review options early, consider switching lenders for better rates, understand all terms, seek expert advice, and update your mortgage to fit current life goals. Renewal is also a chance to reassess needs and choose terms that align with your financial plans.