Renewals
Your renewal letter is not your best offer
Most lenders send renewal offers above their best available rate — because most people sign and send them back. A free renewal review, started up to 120 days before maturity, lets us hold today's rates while we shop 50+ lenders against your bank.
How the 120-day window works
- 120 days out: we lock a rate hold — if rates rise, you're protected; if they fall, you take the lower rate.
- 90–60 days out: we compare your bank's offer against the market, including switch offers where the new lender covers transfer costs.
- 30 days out: paperwork done, you renew on the best terms — with your current bank or a better one.
Today's market
| Term | Market rate range |
|---|---|
| 5 Year Fixed | 3.94% – 4.39% |
| 3 Year Fixed | 3.84% – 4.34% |
| 5 Year Variable | 3.30% – 3.70% |
| Prime rate | 4.45% |
| Bank of Canada policy rate | 2.25% |
Rates shown are ranges observed in the Canadian market for illustration only, on approved credit (OAC), subject to change without notice, as of 2026-07-03. Where a specific rate is advertised for a fixed-amount mortgage, the APR equals the rate unless non-interest charges apply. Not an offer of credit.
Renewing at 55+ with retirement in view?
If the payment is the problem, renewal time is the right moment to look at every tool — including a reverse mortgage, which can pay off the mortgage entirely and end the monthly payment. We'll show you both paths side by side.
Get your free renewal review
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