Canadian Mortgage Renewal Fairness Framework
A lender-neutral framework for reviewing a Canadian mortgage renewal offer before signing. It organizes the questions and decision factors FairRate considers important; it is not a representative borrower study, lender survey, or statistical finding about the Canadian mortgage market.
Method and limitation
This page is based on FairRate's educational review framework. It does not claim a representative sample, national borrower survey, lender-pricing study, market-share analysis, or statistically validated population result.
A separate publication should not be treated as original research unless it clearly defines its sample, observation period, inclusion and exclusion rules, aggregation method, privacy protections, and limitations.
Rate context
How the quoted 5-year fixed rate compares with supported fresh public context when FairRate can verify it.
Product terms
Term, fixed or variable structure, amortization, prepayment privileges, portability, and penalty wording.
Timing
How much time remains to ask questions, obtain written alternatives, or complete required documentation.
Switching friction
Qualification, documentation, discharge, transfer, appraisal, legal or notarial, title-insurance, administration, and other possible costs.
Questions to review before signing
What FairRate currently supports
FairRate Canada's benchmark-backed free checker and paid benchmark reports currently support 5-year fixed renewal offers only. The comparison uses fresh public 5-year fixed market context when a usable source is available and fails closed when supported fresh context cannot be verified.
Province is contextual and does not create province-specific benchmark pricing. FairRate does not provide mortgage approval, underwriting, legal advice, or a guarantee of a lower rate or savings.
Voluntary renewal-offer submissions
FairRate accepts voluntary renewal-offer submissions without asking for a name or email in that form. Submitted fields can still include exact lender, province, balance, rate, term, timing, and free-text notes, so remove names and other identifying details before sharing anything.
A submission does not automatically become a public statistic. FairRate should only publish aggregate findings when the methodology, sample size, suppression rules, period, and limitations are disclosed.
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.