Renewal rates
Mortgage renewal rates in Canada.
Today’s best 5-year fixed is 4.19% and variable 4.04%. Don’t auto-renew at your bank’s first offer — switching at maturity is penalty-free and renewal shoppers save 30-60 bps. We shop 50+ lenders for you.
As of May 13, 2026. Your rate depends on your file. O.A.C.
Why your renewal rate should beat the bank’s letter
The renewal notice your bank mails is rarely its best rate — it’s a starting offer. Because a transfer at maturity carries no penalty (and often no stress test), you have full leverage to move. We put your renewal out to 50+ lenders and bring back the lowest, so the bank either matches or loses you.
Renewal rates — FAQ
Are renewal rates the same as new mortgage rates?
They should be — but banks often send a renewal offer above their best advertised rate, betting you'll just sign. Renewal shoppers who switch save an average of 30-60 bps. We show today's best renewal rates above and shop them for you.
Can I switch lenders at renewal without a penalty?
Yes. At maturity there's no prepayment penalty, so a straight transfer to a new lender is usually free — and a transfer often doesn't require re-passing the stress test. We handle the paperwork.
When should I lock my renewal rate?
About 120 days before maturity — that's the rate-hold window. Lock today's rate while you shop, protected if rates rise. Set a free renewal reminder so you don't miss it.
What will my payment be at renewal?
If you came off a sub-2% pandemic rate, expect a jump. Run it on our payment shock calculator — then we'll find the lowest renewal rate to soften it.