As Canada navigates a historic mortgage renewal wave, with over 1.5 million households already facing higher rates and another million set to renew this year, complacency is your biggest financial risk. Financial expert Christopher Liew warns that many GTA homeowners are falling into a dangerous trap: signing their lender’s first renewal offer without negotiation. With the Bank of Canada holding rates at 2.25 per cent, there is no immediate relief in sight, making your personal strategy critical. Liew emphasizes that the 21-day legal notice provided by lenders is merely a minimum, not a timeline for success. By starting 120 days before your maturity date, you gain the leverage needed to shop for competitive rates. Don’t let inertia cost you thousands—treat your renewal as a negotiation, not a bill. For the full breakdown of how to prepare your paperwork and avoid costly renewal mistakes, visit the original article at BNN Bloomberg.
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