Leah Zlatkin featured in CMP Magazine: ‘Mortgage renewal wave to test Canadian borrowers as rates ease’

Leah Zlatkin, licensed broker and COO of Mortgage Outlet, said advance planning is an essential part of navigating a renewal process that’s become stressful for many owners.

“Many Canadians wait until they receive their lender’s renewal letter to figure out what their new payments will look like. By then, options are limited, and the payment increase can be a huge shock,” she said.

Zlatkin recommends homeowners begin planning four to six months before renewal. Key preparation steps include modelling worst-case scenarios, evaluating cash flow impacts, and gathering necessary documentation early.

“To prepare, calculate what your payments would look like if rates were higher by 15% to 20%, helping you understand the potential increase and how it will affect your budget,” Zlatkin advised.