Homeowners often stay with their current lender due to perceived time constraints, but contacting a mortgage advisor can help assess current rates and terms during renewal. It is important to evaluate life changes impacting finances, such as debt consolidation, home equity, or property plans. Homeowners should explore refinancing options for paying down their mortgage faster, leveraging home equity, or adjusting amortization. It is recommended to not sign renewal forms without questioning to secure the best rate and take advantage of multiple lenders competing for the best rate. There are innovative tools available in Canada for streamlined processes and optimal options.