Leah Zlatkin featured in CMP Magazine: ‘Refinancing at renewal is harder than many Canadians expect’

Leah Zlatkin, licensed mortgage broker and COO of Mortgage Outlet, says the BoC findings reflect a pattern she encounters regularly in practice.

Many homeowners who purchased when values were higher, or who have taken on more consumer debt since buying, find their refinancing options far narrower than anticipated when renewal arrives.

“More homeowners are coming to renewal expecting to refinance but the numbers don’t always support that,” says Zlatkin.

“If their equity is lower than expected, their debt has grown or their income has changed, the options available can look very different than what they had planned.”