In this episode of the Real Life Mortgage Solutions podcast, Len Lane delves into the critical yet often overlooked process of mortgage renewals. With a staggering statistic that 85% of Canadians auto-renew their mortgages without exploring better options, Len breaks down the implications of this decision and why it's crucial for individuals to reassess their mortgage terms. He highlights the significant impact of recent economic shifts, such as the Bank of Canada rate increases, on mortgage rates and renewals. Len explains the differences between variable-rate and adjustable-rate mortgages and how each type may affect renewal options and payments. Furthermore, he discusses the recent regulatory changes affecting insured and uninsured mortgages and offers insights into predicting future mortgage rates. Finally, Len provides actionable steps for preparing for mortgage renewals, emphasizing the importance of staying informed and proactive in securing the best mortgage terms.--Contact Len Lane | Brokers for Life: BrokersForLife.caLinkedin: Len LaneLinkedIn: Brokers for LifeFacebook: Brokers for LifeX: @Brokers4Life

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