It’s time to renew your mortgage and it is important to look at various opportune options that are offered to you. One often waits until the last minute of their renewal before renewing their term even though a mortgage is often the most important loan.
Even if your renewal will expire in 4 months, it is the ideal moment to reserve your interest rate. The interest rates are still very low, the advantage of holding your interest rate as of now is to protect you against rising rates at the time of your renewal.
However, you can always profit from a decline of interest if it is lower at the time of your renewal. For a good protection rate, this often implies a change of financial institution (SUBROGATION). This is to indicate that the new creditor absorbs all the expenses for a transfer of mortgage including the notary.