How to Handle the 2025-2026 Mortgage Renewal Wave
2.2 million Canadian mortgages originated at pandemic-era rates (1.5-2.5%) are renewing in 2025-2026. This is the biggest opportunity for mortgage brokers in a decade — but only if you can handle the volume.
The Renewal Wave by the Numbers
- ~900,000 mortgages renewing in 2025 alone (Bank of Canada SAN-2025-1)
- Average rate increase at renewal: +2.0-3.0%
- Average payment increase: $400-$800/month per household
- Highest concentration: Ontario, BC, Alberta
Why Renewals Are a Massive Broker Opportunity
Most homeowners don't know they can switch lenders at renewal with zero penalty. They assume they have to accept their current lender's offer. That's where you come in.
The value proposition is simple: "I can check 40+ lenders and find you a better rate than your current lender is offering."
The Renewal Workflow Problem
Traditional approach:
- Client brings renewal letter
- Broker checks 5-10 lenders manually
- Calculate stress test qualification at each lender
- Takes 2-4 hours per client
- At 15+ renewals/month, this is unsustainable
The AI-Powered Renewal Workflow
With BIPS (bips.ca):
- Client brings renewal letter
- Enter current mortgage details into BIPS (2 minutes)
- BIPS tests against 40+ lenders simultaneously
- Get every qualifying lender with current rates
- Present top 2-3 options to client
- Submit via Filogix
Time per client: 10-15 minutes instead of 2-4 hours.
Batch Processing Renewals
Top brokers using BIPS batch-process renewal scenarios:
- Pull list of clients with renewals in next 120 days
- Run each scenario through BIPS
- Proactively contact clients with better options
- Close deals before the client even thinks about shopping
Result: Process 15 renewal clients per hour vs 2-3 manually.
Key Transfer/Switch Rules
- No penalty for switching at maturity
- Most lenders cover transfer costs
- Stress test still applies (even for renewals with a new lender)
- CMHC insurance transfers with the mortgage
- Rate hold periods: Typically 90-120 days
Renewal Rate Comparison Strategy
| Source | What You Get | Time | |--------|-------------|------| | Current lender offer | One rate, take it or leave it | 0 min | | Broker checks 5 lenders | 5 options, might miss better deals | 2 hrs | | BIPS checks 40+ lenders | Every qualifying option | 2 min |
The Bottom Line
The renewal wave is a once-in-a-decade opportunity. The brokers who can process volume efficiently will win. BIPS (bips.ca) makes it possible to handle 3-4x more renewal clients with the same effort.
Start your 14-day free trial at bips.ca/register.