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Today's Rates
SEPT
22010
| Term | Posted rates |  |
| Variable | 2.75 %* | 2.10 % |
| 1 year | 4.30 % | 2.44 % |
| 3 years | 4.65 % | 3.45 % |
| 5 years | 5.49 % | 3.74 % |
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Multi-Prêts is your one stop shop giving you access to more than 20 financial institutions.
Time for mortgage renewal soon? Renew with your current economic position in mind.
To take advantage of the most advantageous rates, contact us at least 4 months before the end of your term. You could even transact for free.
Let us develop a mortgage solution tailored to your financial needs. We will review your financial position and discuss the most important elements like choosing the mortgage term and evaluate the accelerated repayment options.
Take time to analyze the options available to you before you renew your mortgage. You must understand how the lenders will look at your application, and which are the key elements considered before accepting your renewal. The more you know about the mortgage process, the better you will understand our mortgage consultant suggestions which will facilitate your overall mortgage renewal process.
Here are the main questions to ask yourself when considering mortgage renewal :
- Should you pick a short term mortgage (6 months for example) our a longer term?
- Choose a fixed or variable rate?
- What is your risk tolerance?
- Which projects should be prioritized? Your renewal could then fit with your overall plan.
The advantages and preparation of a straight renewal
- You will get the lowest rates, regardless of terms, for a period of time guaranteed up to 120 days.
- This will buy you the time to analyze the products available in the market and help you make the right choice.
- This will give you time to put together the necessary paperwork to complete your request on time.
Renewal options
Renewing a mortgage can be a simple administrative procedure where all the numbers are adjusted to take into consideration interest rates at the time of the transaction or a more complex operation like refinancing, which allows you to increase the amount of money borrowed and/or the amortization period. All sorts of options are available to you so you can bring to fruition your projects without hurting your financial or personal well being.
Take the time to analyze your short terms projects and determine whether or not they are feasible before making the final commitment for your renewal. Take advantage of this time to forecast your future spending. Consider carefully before you refinance your mortgage or change its terms, increase your loan and/or the amortization period. Whether you have some major renovation projects in mind, or simply want to improve the look of your home interior, consolidate your debts, or even travel, there is a solution that fits your personal needs. Multi-Prêts’ mortgage brokers are there to help you choose the best options before you renew your mortgage.