Normally you would have a 5-year fixed mortgage meaning you will renew in 5 years. Check your mortgage statement as it shows when it will be due for renewal. 3 months before the renewal you can start looking and check if there are other lenders who would give you a better rate or mortgage package.

No. You can either renew the mortgage for another term with the same bank or refinance. If you are in Ontario - email me at victor_catalan@centum.ca and I will help you.

You can leave the bank or get another fixed rate mortgage. When the term is up you are free to do what ever you want and I until you make the decision the bank will have your mortgage at variable open rate.