Review your 5-year fixed mortgage renewal offer before you sign.
Enter a supported Canadian 5-year fixed renewal offer and compare it with fresh public 5-year fixed market context. The result is educational, not a lender quote or approval.
FairRate Canada is an independent consumer-paid educational comparison and reporting product — not a lender, mortgage broker, mortgage agent, law firm, financial advisor, or mortgage underwriter. FairRate does not arrange mortgages, take applications, approve credit, or sell mortgage inquiries to lenders or brokers. The current benchmark-backed checker and paid benchmark reports support 5-year fixed renewal offers only and use fresh public 5-year fixed comparison context when a usable source is available. Broader Bank of Canada data may be used for contextual purposes. Results are not a lender quote, approval, qualification result, personalized advice, or guarantee of a lower rate or savings. Verify current rates, eligibility, fees, penalties, product terms, and switching costs with the relevant lender and, where appropriate, a licensed mortgage professional or other qualified advisor.
Fresh Canadian 5-year fixed comparison context
Rate context as of July 22, 2026- Competitive 5-year fixed reference
- 3.99%
- Typical 5-year fixed context
- 4.24%
Public Canadian 5-year fixed mortgage-rate pages · not a lender offer
Public Canadian 5-year fixed mortgage-rate pages · not a lender offer
Public comparison context is not a lender commitment, qualification result, or guarantee that a displayed rate is available to you.
Why review a renewal offer?
A renewal letter is one offer. Review the rate and written product terms before accepting.
Ask about penalties, prepayment rules, portability, fees, and whether another option is available.
Compare alternatives on a like-for-like basis and include qualification, timing, and switching friction.
FairRate Canada review framework
Start with a supported 5-year fixed comparison, then review scheduled-payment context, product terms, fees, penalties, and switching questions before deciding.
Payment context
Understand why shortcut balance×spread math is not an exact cost or savings calculation.
Renewal Watch
Read the educational briefing on before-you-sign renewal questions.
Renewal education library
Browse lender, province, rate, and term-oriented educational pages. These are not separate verified benchmark engines.
Review a major-bank renewal offer
Use a lender page for educational context, then use the benchmark-backed checker only when the offer is a supported 5-year fixed renewal.
Choose your report
Educational comparison preview for a supported 5-year fixed renewal offer.
- ✓ Supported comparison verdict
- ✓ Public benchmark context
- ✓ Scheduled-payment context
Written review for a supported 5-year fixed renewal offer.
- ✓ Written 5-year fixed comparison
- ✓ Scheduled-payment context
- ✓ Questions to ask
- ✓ Lender-response wording
Free check before payment
Broader educational before-you-sign review for a supported 5-year fixed renewal offer.
- ✓ Everything in the Rate Fairness Report
- ✓ Fee and penalty questions
- ✓ Stay-vs-switch considerations
- ✓ Prepayment and portability checklist
- ✓ Before-you-sign action checklist
No guaranteed lower rate or savings
Get benchmark movement alerts
Receive FairRate Canada renewal reminders and benchmark updates. Alerts do not imply province-specific benchmark pricing.
Consumer-paid reports, no mortgage inquiry sold to lenders or brokers
FairRate does not arrange mortgages or earn lender referral commissions on this report flow. Competitor business models vary and should be assessed individually.
Sample 5-Year Fixed Renewal Report
Illustrative sample only — CA$450,000 balance, 25 years remaining, 5-year fixed offer at 4.89%
The sample offer sits above the illustrative 5-year fixed comparison rate. That is a reason to review the offer and product terms, not proof that another rate is available or that the borrower should take a specific action.
+55 basis points in this sample · 100 basis points = 1 percentage point
FairRate does not present mortgage balance multiplied by a rate spread as exact annual interest cost or five-year savings. Payment differences are illustrative and exclude many fees, penalties, prepayments, timing differences, and switching costs.
Sample only. The current benchmark-backed FairRate Canada checker and paid benchmark reports support 5-year fixed renewal offers only. Actual reports use the supported checkout snapshot and fail closed when fresh supported comparison context cannot be verified.
Free check first · Rate Fairness Report CA$24 · Full Renewal Decision Report CA$49 · No credit check · Inquiry not sold to lenders or brokers
How it works
Enter a supported offer
Use a Canadian 5-year fixed renewal offer plus balance, amortization, and context.
See the free check
Get an educational comparison preview before paying for a written report.
Choose a report
Add scheduled-payment context, review questions, and before-you-sign checklists.
Frequently Asked Questions
Is FairRate a mortgage broker?
No. FairRate is an independent educational comparison tool. It is not a mortgage broker, mortgage agent, lender, law firm, or financial advisor. It does not arrange mortgages or make lending decisions.
What Canadian renewal offers does the benchmark-backed checker support?
The current FairRate Canada benchmark-backed checker and paid benchmark reports support 5-year fixed renewal offers only. Variable-rate and other-term offers should not be compared against this 5-year fixed reference.
Will a broker or lender call me?
FairRate does not sell your mortgage inquiry to brokers, banks, or lenders. Paid FairRate reports are consumer-paid products.
What benchmark data does FairRate use?
FairRate uses fresh public Canadian 5-year fixed mortgage-rate context when a usable source is available. Bank of Canada data may be used for broader context. Public comparison data is not a lender quote, approval, or guarantee that a rate is available to you.
What do I get in the paid reports?
The CA$24 Rate Fairness Report adds a written supported-rate review, scheduled-payment context, questions to ask, and lender-response wording. The CA$49 Full Renewal Decision Report adds a broader educational review of fees, penalties, product terms, stay-vs-switch questions, and a before-you-sign checklist. Neither report guarantees a lower rate or savings.
Important limitation: FairRate Canada is an independent consumer-paid educational comparison and reporting product — not a lender, mortgage broker, mortgage agent, law firm, financial advisor, or mortgage underwriter. FairRate does not arrange mortgages, take applications, approve credit, or sell mortgage inquiries to lenders or brokers. The current benchmark-backed checker and paid benchmark reports support 5-year fixed renewal offers only and use fresh public 5-year fixed comparison context when a usable source is available. Broader Bank of Canada data may be used for contextual purposes. Results are not a lender quote, approval, qualification result, personalized advice, or guarantee of a lower rate or savings. Verify current rates, eligibility, fees, penalties, product terms, and switching costs with the relevant lender and, where appropriate, a licensed mortgage professional or other qualified advisor.