With a majority of homeowners facing mortgage renewals in the next 12 to 24 months, now is the time to prepare. When your mortgage term ends, your lender will send a renewal letter with new terms and interest rates. While it may seem convenient to sign and return the offer, doing so without reviewing your options could mean paying more than necessary. Many lenders do not automatically offer their best rates upon renewal. Instead, they often present a higher rate, assuming borrowers will... [read more]