While most Canadians spend a lot of time, in shopping for the initial mortgage, the same is generally not the case when looking at mortgage term renewals. Nearly 60% of borrowers simply sign and send back their renewal letter from their existing lender. Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing the first renewal offer is costing the homeowner a lot more money on their mortgage. Generally it is a good idea to start shopping for a new term 120 day before your maturity. Your mortgage is one of your biggest expenses. For this reason it is imperative to find the best interest rates and mortgage terms you possibly can and I am here to help you negotiate these loans! Please Please Please do not be one of the 60% who just simply sign their renewal letter and send it back.