Annual Review: A Simple Strategy to Stay in Control of Your Mortgage

John Doornenbal

Mortgage Broker

Language(s):
French
English
Italian
German
Spanish

It’s always wise to stay in control of your mortgage. An annual review allows you to adjust your payments gradually—without waiting for renewal time.

How does it work?

On each anniversary of your mortgage, compare your current contract rate with today’s available rate. If today’s rate is higher, you can increase your payments to match it. This strategy helps you:

Pay down your principal faster
Prepare for potential future fluctuations
Avoid a financial shock at renewal time
A simple yet powerful way to stay in control of your budget.

Questions about your situation or interest rates? Don’t hesitate to reach out, we’re here to help.!

For more information regarding mortgage payments and rates, do not hesitate to contact me!

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TERMS	BANKS	MORTGAGE PLANNERS
1 Year Fixed	7.14%	4.89%
2 Years Fixed	6.69%	4.24%
3 Years Fixed	6.35%	3.89%
3 year closed Variable	5.95%	4.45%
4 Years Fixed	6.29%	3.94%
5 Years Fixed	6.34%	3.99%
5 years Variable	5.20%	3.70%
Refinance Fixed or variable	7.65%	3.95%
7 Years Fixed	6.69%	4.59%
10 Years Fixed	7.14%	5.04%
HELOC	5.45%	4.95%

TERMS

BANKS

MORTGAGE PLANNERS

1 Year Fixed

7.14%

4.89%

2 Years Fixed

6.69%

4.24%

3 Years Fixed

6.35%

3.89%