If you’re in the market to renew your mortgage—or if you’ve already done so and are wondering if you got a good deal or not—you may want to check out this thread on Reddit.
The thread starts with a link to the CBC article 5 tips for renewing your mortgage—an article that, according to the original poster, doesn’t contain a ton of information beyond what most of us already know: namely, never accept your lender’s first offer without doing your research first. It then goes on to ask for Canadian renewal experiences.
What follows is a wealth of information—from renewal rates Redditors received by utilizing a mortgage broker, to the impact of the new mortgage rules. Mortgage agents joined the thread to answer Redditors’ questions, and some Redditors shared their secrets for deciding the age-old fixed versus variable debate.
Long story short, if you have questions about what the current renewal market is like—or if you’d like to learn about how other Canadians have negotiated with their lenders to get the best rate available—it’s definitely worth a read.
Additionally, if you have any specific mortgage questions you’d like answered, feel free to shoot me an email. I’d be happy to answer them for you!