Mortgage Renewals in 2026: Smart Moves to Consider Early
Because waiting until your lender sends a letter is not a strategy
For many homeowners and investors, mortgage renewals feel automatic.
Your term ends.
Your lender sends a letter.
You sign.
Life goes on.
But in a shifting market like the one we’re in now, that “set it and forget it” approach can quietly cost you thousands — sometimes tens of thousands — of dollars.
And here’s the part most people don’t realize:
2026 will be one of the largest mortgage renewal waves Canada has seen in years.
Thousands of owners who locked in ultra-low rates in 2020–2021 will be renewing into a very different interest rate environment.
Which means this isn’t just paperwork.
It’s a financial decision that can materially change your cash flow, borrowing power, and long-term wealth.
If your mortgage renews in 2026, the smartest move you can make is simple:
👉 Start planning now — not 30 days before renewal.
Why 2026 Renewals Matter More Than Usual
Let’s rewind for a second.
During the pandemic, many borrowers secured rates between 1.5%–2%.
Today? Even with recent rate cuts, typical mortgage rates are still significantly higher than those historic lows.
That means many homeowners could see:
Higher monthly payments
Reduced cash flow
Stricter re-qualification rules
Less flexibility to invest or upgrade
For investors, this impacts:
Rental property profitability
Refinance strategies
Ability to purchase additional properties
Overall portfolio growth
In other words, your renewal isn’t just about “keeping the same payment.”
It’s about re-engineering your entire financial strategy.
5 Smart Moves to Consider Early
Here’s how we coach our Wealth Builders clients to approach renewals strategically.
1. Review Your Mortgage 6–12 Months Before Renewal
Most lenders only reach out 30–60 days prior.
That’s too late.
Starting early gives you:
Time to compare lenders
Time to improve credit if needed
Time to restructure debt
Leverage to negotiate
The earlier you start, the more options you have.
Waiting limits your choices.
2. Don’t Auto-Renew With Your Current Lender
It’s convenient.
It’s easy.
It’s usually not the best deal.
Your lender’s first offer is rarely their most competitive.
Shopping your mortgage — or working with a broker — can often reduce your rate or secure better terms.
Even a 0.5% rate difference can mean thousands saved over a 5-year term.
Small numbers. Big impact.
3. Consider Restructuring — Not Just Renewing
Renewal time is your chance to rethink your strategy.
Ask:
Should we extend or shorten the amortization?
Should we access equity for another investment?
Should we consolidate higher-interest debt?
Should we switch fixed/variable based on our risk tolerance?
For investors, this can be powerful.
We’ve seen clients:
Pull equity for down payments
Improve rental cash flow
Finance renovations to increase rents
Add additional doors to their portfolio
Renewal can be a growth moment — not just maintenance.
4. Run the Cash Flow Numbers
Especially for condo and rental investors in Toronto and Calgary, math matters more than headlines.
Before renewing, calculate:
New payment at current rates
Rental income vs expenses
Cap rate and ROI
Break-even rent
If a property no longer fits your strategy, renewal is a logical checkpoint to:
Hold
Refinance
Or redeploy capital elsewhere
This is where having experienced, investor-focused advisors makes a huge difference.
Because the right move isn’t emotional — it’s numerical.
5. Align Your Mortgage With Your Life Plans
Your mortgage should match your goals.
Not the other way around.
Planning to:
Move?
Upsize?
Downsize?
Buy an investment property?
Sell in 1–2 years?
Then locking into a long fixed term with penalties might not make sense.
Flexibility can sometimes be more valuable than the absolute lowest rate.
Strategy > rate chasing.
Every time.
The Bottom Line
Mortgage renewals aren’t administrative.
They’re strategic.
Handled casually, they cost money.
Handled intentionally, they create opportunity.
Especially in 2026 — when so many borrowers will be resetting their rates — the people who plan early will win.
The ones who wait will simply accept whatever shows up in the mail.
At Wealth Builders, we treat renewals like we treat investing:
With spreadsheets, not soundbites.
With strategy, not stress.
Thinking ahead to your 2026 renewal?
If your mortgage renews in the next 12–18 months, now’s the time to review your options and build a plan.
📩 Connect with the Wealth Builders team
🌐 www.remaxwealth.com
✉️ info@remaxwealth.com
Let’s make sure your next term supports your wealth — not slows it down.