Mortgage Blog
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Mortgage Renewals: What You Need to Know
May 1, 2025 | Posted by: Daryl Johnson
With 60% of upcoming mortgage renewals facing higher rates, many homeowners are wondering what their best move is. The good news? Higher incomes and a paid-down principal can help offset some of the impact. But planning ahead is key!
So, what’s your best option moving forward? Let’s break it down:
Fixed Rate – Locked in for your term with steady payments and no surprises. Think of it like cruising on a smooth highway—predictable and stress-free. 
Variable Rate – Moves with the market. If rates drop, you save. If they rise, so do your payments. Like gas prices at the pump—always changing! 
Both options have pros and cons, and the right choice depends on your financial goals, risk tolerance, and future plans.
Before you renew, let’s talk! Let's have a quick conversation to help you unlock the best strategy for your situation. DM or Call 519-538-6772, today for a free consultation. 
