Renew or rethink?

Millions of Canadians have mortgages (approximately 5.7-million), so you could be one of the many who will be faced with a renewal letter at some point in the next 6-12 months. There’s a couple possible scenarios you may encounter: You want an early renewal to better suit your financial situation When you receive your renewal letter you notice interest rates are much higher than the ones being offered now A 2014 report from the Mortgage Professionals Canada, which represents the mortgage industry, found 20 per cent of those customers coming up for renewal each year will switch lenders to seek a deal. [Financial Post] Yes,…