Follow the market, not just the rates.
It is true that recent announcements from central banks, particularly the Fed, may not seem encouraging for those looking to secure a mortgage today. However, inflation and monetary policy are not the only forces shaping interest rates; market dynamics, especially supply and demand, also play a decisive role. At the moment, borrowers are exercising caution, while the number of lenders is increasing, with insurers expanding their offerings and neobanks making a notable entry into the market. As a result, it is paradoxically possible to secure a more favourable rate, provided you anticipate your renewal. By acting one or even two years before your mortgage matures, you give yourself the time needed to follow the market closely and intervene at the most advantageous moment.
Other advantages to consider
There is more good news: when you renew your mortgage, the outstanding balance will usually be lower. This means the interest you pay will be calculated on a reduced amount. Another potentially interesting strategy could, on the contrary, involve borrowing slightly more than necessary to build up a cash reserve for a project (renovations, pool, vehicle, etc.). This approach has the advantage of increasing your debt level and thus reducing your taxes. As we can see, it is important to allow sufficient time and consider all parameters. To support you with ease and flexibility, Plus Financement Immobilier has launched a brand-new free video consultation service. No more juggling your work schedule to make an appointment; simply book a time slot (until 7 PM) here to chat from home with one of our experts and review all the options available to you, with no obligation on your part.
