Mortgage renewals in Canada show two distinct borrower experiences. Those who locked five-year fixed rates before 2022 face significant payment increases due to rising rates. Conversely, borrowers who took shorter fixed terms during 2022-2024 are now seeing lower renewal rates, resulting in payment decreases. Brokers should proactively contact these clients early to ensure they secure the best rates, as many may passively accept lender offers, missing potential savings.