Making the Right Choice at Mortgage Renewal

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With recent rate cuts, variable mortgages are now significantly cheaper than fixed rates. Here’s how we can help you make the best decision.<!–

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Happy November!

Many of our clients are facing important decisions as their mortgages come up for renewal over the coming year. While our firm does not arrange or offer mortgages directly, we know that interest rate trends can significantly impact your overall financial plan.

Here’s what we’re seeing right now:

With the recent Bank of Canada rate cuts, including this week’s announcement, variable-rate mortgages are now notably cheaper than fixed-rate options. Based on the current state of the bond market, we believe this trend is likely to continue for the foreseeable future.

That said, each client’s situation is unique. Factors such as cash flow flexibility, risk tolerance, and broader financial goals all play a role in determining which mortgage structure makes the most sense. Our team is here to help you think through these considerations and guide you toward a decision that fits your overall financial strategy.

Our recommendation:

If your mortgage is coming up for renewal, we strongly encourage you to:

Review your options early — lenders often reach out months before a renewal date.
Consider a variable rate if your financial situation allows for flexibility; it could position you well as rates continue to evolve.
Reach out to us before finalizing any renewal — we’re happy to review your offers and discuss how your mortgage decisions align with your long-term wealth plan.

We also have a carefully selected network of independent mortgage brokers who share our commitment to objective, client-first advice. You’re welcome to connect with one of them, or we can coordinate directly with your existing broker to ensure your mortgage strategy complements your broader financial goals.

As always, our goal is to help you make informed decisions across all areas of your financial life. If you’d like to discuss your situation, please don’t hesitate to contact us — we’re here to help.

Warm regards,

Matthew Ramadan

Schedule a call

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Schedule a call

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This material, intended for the exclusive use by the recipients who are allowable to receive this document under the applicable laws and regulations of the relevant jurisdictions, was produced by and the opinions expressed are those of Spear Financial as of the date of this publication, and are subject to change based on market and other conditions. The information and/or analysis contained in this material have been compiled or arrived at from sources believed to be reliable but Spear Financial does not make any representation as to their accuracy, correctness, usefulness or completeness and does not accept liability for any loss arising from the use hereof or the information and/or analysis contained herein. The information in this document including statements concerning financial market trends, are based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.

All overviews and commentary are intended to be general in nature and for current interest. While helpful, these overviews are no substitute for professional tax, investment or legal advice. Clients should seek professional advice for their particular situation. Past performance does not guarantee future results.

Stocks, bonds and mutual funds are offered through Monarch Wealth Corporation. Insurance products and services are offered through Spear Financial.

Monarch Wealth Corporation is a member of the Canadian Investor Protection Fund

Stocks, bonds and mutual funds are offered through Monarch Wealth Corporation. Insurance products and services are offered through Bowyer Financial. Banking products and services are offered through referral.

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Making the Right Choice at Mortgage Renewal

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