Mortgage renewals can significantly affect finances, especially with rising interest rates leading to higher payments. Borrowers with federally regulated lenders who switch at renewal no longer face mandatory stress tests if they do a straight switch. Options include renewing with the current lender, switching lenders, changing mortgage types, or refinancing. Key tips: shop early, negotiate rates, reassess needs, compare offers, consider long-term goals, understand terms, maintain good credit, and stay informed on market trends.