Renewing your mortgage should be easy, right? Absolutely, but there are factors to consider before signing on the dotted line.
Most people tend to just sign back the mortgage offer given to them by their existing mortgage lender, however, that may not be the best offer available to you. In fact, a study done by the Bank of Canada indicates that those borrowers who switched lenders at renewal, typically saved more money than those who remained loyal to their existing lender. (more…)