How do I change the assumed interest rate at mortgage renewal?
Where to find it: RATES/YIELDS and CURRENCIES → loan’s Renew link
Open RATES/YIELDS and CURRENCIES, find the loan and select its renewal control. Enter the rate to apply at the shown maturity or renewal date. You can also enter dated future rate changes in that table.
Return to LOANS and inspect the amortization after saving. Check the date and term of the loan so the new rate applies when you intend.
For a variable loan linked to Prime, review the Prime rate and the loan’s spread as well. A fixed-rate renewal assumption and a change to the household’s Prime assumption are different inputs.