5-year fixed offers · No credit check
See How Your 3-Year or 5-Year Fixed Renewal Offer Compares
Enter your lender’s offered rate and remaining mortgage balance in FairRate’s free checker. See supported benchmark context, the estimated rate gap, and its approximate dollar impact. No lender referral. No obligation.
Already received a renewal offer from your lender?
Check the rate against current Canadian mortgage benchmarks before you sign. FairRate is paid by you, not by lenders, and does not sell your information to brokers.
Free · no credit check · currently supports Canadian 3-year and 5-year fixed renewal offers
No broker calls. No data sold. No obligation.
Have the offer in front of you?
Turn the percentage into a dollar comparison
Enter the offered rate and mortgage balance to see how a supported Canadian 3-year or 5-year fixed renewal offer compares with FairRate's available benchmark context. The free result shows the estimated rate gap and its approximate dollar impact so you have more context before deciding what to do next.
Original Canadian renewal research
FairRate Mortgage Renewal Offer Index
FairRate is building a privacy-safe, voluntary dataset of supported Canadian fixed renewal offers. The research page documents the collection method, exclusions, publication threshold, and limitations. Headline findings remain hidden until the minimum valid sample is reached.
Why this page does not publish fallback rates as current market data
A configured fallback value can be useful for internal resilience, but it should not be displayed as though it were a newly observed broker floor, bank average, posted-rate ceiling, or current market rate. FairRate does not use fallback constants to manufacture live-looking mortgage-rate claims on this page.
Any current numeric market comparison should be tied to a usable source, an explicit observation date, the same product type, and clear limitations. When supported fresh context cannot be verified, the benchmark-backed checker should fail closed.
How to compare mortgage renewal rates
- Match the same term and fixed or variable structure.
- Check whether the advertised rate has insurance, loan-to-value, occupancy, property, closing-date, or other eligibility conditions.
- Review the remaining amortization and scheduled-payment assumptions.
- Compare penalty wording, prepayment privileges, payment-increase options, and portability.
- Include fees, promotional conditions, cashback terms, collateral-charge terms, and other restrictions.
- Do not assume that a public advertised rate is available to a particular borrower.
Current FairRate Canada scope
FairRate Canada's benchmark-backed free checker and paid benchmark reports currently support Canadian 3-year and 5-year fixed renewal offers. Variable-rate and other-term offers should not be forced against those references.
FairRate is not a lender, mortgage broker, mortgage agent, brokerage, underwriter, law firm, or financial advisor. It does not make approval decisions, guarantee another rate, or promise savings or a particular decision outcome.
Province mortgage rate guides
Educational rate-comparison questions and local transaction context for Ontario borrowers.
Educational rate-comparison questions and local transaction context for Alberta borrowers.
Educational rate-comparison questions and local transaction context for British Columbia borrowers.
Educational rate-comparison questions and local transaction context for Quebec borrowers.
Educational rate-comparison questions and local transaction context for Manitoba borrowers.
Compare Saskatchewan 5-year fixed renewal offers with like-for-like dated Canadian context and full product terms.
Educational rate-comparison questions and local transaction context for Nova Scotia borrowers.
Educational rate-comparison questions and local transaction context for New Brunswick borrowers.
Educational rate-comparison questions and local transaction context for Newfoundland and Labrador borrowers.
Educational rate-comparison questions and local transaction context for Prince Edward Island borrowers.
Related Canadian mortgage guides
Frequently asked questions
What is a fair mortgage rate in Canada?
There is no single rate that is fair for every borrower. Compare the same term and fixed or variable structure, then review mortgage characteristics, insurance status, eligibility, fees, penalties, prepayment privileges, portability, restrictions, and the date and source of any market context.
Are mortgage rates different by province?
A province name does not create a FairRate province-specific benchmark. Provincial and local taxes, legal or notarial requirements, property costs, insurance, and lender availability can affect affordability and transaction costs, but any rate comparison still needs like-for-like product and eligibility assumptions.
Does FairRate publish a broker floor or bank average?
FairRate does not present configured fallback constants as a current broker floor, bank average, or posted-rate ceiling. Its benchmark-backed checker currently supports Canadian 3-year and 5-year fixed renewal offers and fails closed when fresh supported comparison context cannot be verified.