Mortgage renewal
Is your renewal offer actually competitive?
70% of Canadians sign their renewal letter without shopping. Most overpay by $5K–$30K over 5 years. Validate your renewal rate in 30 seconds.
- ✓ Renewal-specific market benchmark (different from purchase pricing)
- ✓ Lifetime cost of accepting vs switching lenders
- ✓ Find out if a switch covers its own legal/discharge fees
Based on Canadian mortgage data
Updated Apr 20, 2026
Used by buyers across Canada
Renewal mistakes that cost the most
Renewal letters are anchors
Lenders open with their highest acceptable rate. Treat the letter as the starting point, not the offer.
Switch costs are tiny
Discharge + legal usually runs $500–$1,000. A 0.30% lower rate on $400K saves that in months.
No re-qualification needed
Straight renewal at current balance/amortization typically skips the stress test — even if rates went up.
Shop 120 days out
Most lenders honour rate holds 90–120 days. Start early to avoid renewing under pressure.