Is your renewal offer competitive?
Enter the offer in your hand. See the comparison result immediately—no email required.
FairRate Canada is an independent 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, or approve credit. If you choose to be introduced to a mortgage broker, FairRate may earn a referral fee; we’ll always ask first, and your result never depends on it. The current benchmark-backed checker and paid benchmark reports support Canadian 3-year fixed and 5-year fixed renewal offers and use fresh public same-term fixed comparison context when a usable source is available. Variable-rate and unsupported terms should not be compared against these fixed-term references. 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.
What could a renewal rate gap cost?
Compare your quoted rate with a comparison rate over the chosen term. The calculator estimates the difference before fees, penalties or switching costs; it does not establish that you qualify for the comparison rate.
Renewal gap calculator
Estimate how much a rate difference could cost over your renewal term.
From answer to action
If the offer needs a closer look, know what to do next.
FairRate should not stop at telling you a rate looks high. These free tools help you question the offer, understand the switching tradeoffs, quantify the difference, or research a term the checker does not yet support.
Negotiate
Ask your lender for a better offer
Use FairRate’s free lender-response wording to ask for a rate review without guessing what to say.
Get the negotiation wording →Compare
Check whether switching is worth exploring
Review transfer, legal, appraisal, discharge, qualification and timing considerations before comparing alternatives.
Review switching costs →Quantify
Put a rate difference into dollars
Estimate how a rate gap changes scheduled payments so basis points are easier to understand.
Use the rate-gap calculator →Other terms
Looking at a variable rate or another term?
FairRate’s benchmark-backed checkers support 3-year and 5-year fixed renewal offers. For variable rates and other terms, browse Canadian rate context.
See Canadian rate context →Help build independent Canadian evidence
Mortgage Renewal Offer Index
Research pilotFairRate is collecting voluntary, privacy-safe details from supported Canadian 5-year fixed renewal offers. This is an early research pilot, not a representative market index. No headline findings are published until the minimum valid sample is reached.
The research sample is voluntary and non-representative. Exact balances are converted into broad bands before storage.
See the deliverable before paying
Review the full report structure first
Open a clearly fictional sample to see the written-offer questions, like-for-like checklist, lender email, and limitations included in the educational report. No purchase is required to view it.
View the Fictional Sample Report →The sample does not represent a real borrower, current lender offer, available rate, approval, or guaranteed outcome.