Six out of five dentists agree that the run-up to a mortgage renewal can lead to stress-induced jaw clenching, but we have some tips to help you snag the best rate. You’re not alone — about half of mortgage holders are facing renewals soon, with monthly payments potentially jumping by 60% for variable-rate mortgages. Even if your renewal isn’t until 2026, it’s smart to start preparing now. If you currently pay $2,000 a month, and think it could rise to $2,500 (which you can estimate using an online mortgage calculator), try saving that extra $500 each month to get used to the new budget. When your renewal date approaches, don’t wait for the 30-day notice to negotiate; you can start discussions up to 120 days in advance. A great negotiation strategy is to shop around with other lenders. If you find a better deal, show it to your current lender — they might match it. If they don’t, consider switching. Canada’s banking regulator is making that easier for those with uninsured mortgages: starting Nov. 21, you won’t be subject to stress test rules when switching lenders at renewal, as reported by the The Globe and Mail, which could light a fire under banks to offer cheaper rates to keep your business.