I have made a note on your mortgage renewal date, and it's a short, six months away! Now would be a great time to contact or meet with Tracy and her team to discuss your mortgage options prior to the renewal date.
It has been my experience that banks and mortgage lenders will often mail out renewal packages to their existing clients that contain mortgage rates that are not competitive or are not the best rate available in the marketplace. I firmly believe that information is knowledge and that you need to speak to Tracy so that you have all of the correct information about the best rates today and where rates are heading in the next little while.
Banks and mortgage lenders will often auto-renew your mortgage at a substantially higher interest rate if the borrower does not contact them prior to the renewal date. Although your renewal date is still 6 months away, the time to investigate and possibly secure a new mortgage can take several weeks. I strongly advise you to act today so that you can avoid a costly auto-renewal.
If you have any questions or require any more information from me, please do not hesitate to call me directly at my office at 519-824-7100.
Mark F. Graham
Barrister, Solicitor, Public Notary
Mark Graham Law Office Professional Corporation