Birch Hill and Brookfield to acquire First National in $2.9B deal + MORE Jul 29th

Owning a home has plenty of benefits, but it’s not without challenges. Over one million mortgages in Canada are set to renew in the next few years, and many home owners will be faced with higher interest rates. If you’re in this situation, you may feel squeezed in two ways: a higher interest rate will cost you more over the life of your mortgage, and it could impact your cash flow and monthly budget.

If you’re renewing your mortgage this year, starting your research early can help you get the best possible interest rate, better manage your cash flow and stay on track with your financial plan. Here are five smart strategies for renewing or refinancing your mortgage in 2025.

1. Plan ahead for your mortgage renewal

A little planning goes a long way—especially when it comes to your finances. You may have your mortgage renewal deadline on the calendar, but home owners can typically renew their mortgage up to 120 days in advance. Starting your search early can help you find better rates and allows you to make an unrushed, informed decision…

When Canadians need a mortgage, they often default to the big banks—but there’s a whole other world of financing options to explore. Credit unions have competitive interest rates in Canada, including Manitoba, plus innovative mortgage options you may not be able to find elsewhere. Shopping around can save you thousands of dollars over the life of your mortgage term, enabling you to put those funds to good use in other parts of your budget.

Cambrian Credit Union has several branches in Winnipeg and Selkirk that serve Manitobans across the province. Here’s what you should know about getting a mortgage with a credit union, including how credit unions work, the key benefits of becoming a member, and how you could save money by making the switch.

What type of mortgage is right for you?

Whether you’re buying your first home, renewing your mortgage or refinancing a property, you’ll want to find the lowest interest rate available along with repayment terms that meet your needs…

Founders Smith and Tawse to retain minority stakes as mortgage lender enters new chapter