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As of November 21st, 2024, Canadian homeowners looking to renew their mortgage with a new lender no longer need to pass the mortgage stress test. This update from the Office of the Superintendent of Financial Institutions (OSFI) brings significant benefits, including more flexibility, lower rates, and better deals for those renewing their mortgage. By removing this barrier, switching lenders has become easier and more competitive, allowing you to explore various offers to find the best mortgage option available.

If you’re approaching your mortgage renewal, now is the perfect time to assess your options and take advantage of this opportunity to save on interest and secure better terms. I’m here to help you navigate this change and guide you to the best lender for your needs.

Reach out today to learn more and ensure you’re getting the most out of your mortgage renewal!