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FairRate Canada›Tools›Check if my renewal is fair

Check whether your mortgage renewal offer deserves a closer look before you sign

What FairRate currently supports

FairRate Canada’s benchmark-backed checker currently supports Canadian 3-year fixed and 5-year fixed mortgage renewal offers. It provides educational comparison context for a written offer before you respond to your lender. It does not arrange mortgages, guarantee another rate, or promise a negotiation outcome.

A renewal letter is one lender offer. The lender name or quoted percentage alone does not establish whether the full offer is competitive.

For a supported 3-year or 5-year fixed offer, compare like with like and review the written rate, term, payment assumptions, remaining amortization, penalties, prepayment privileges, portability, fees, restrictions, timing, and current benchmark context.

Variable-rate offers and other terms should not be treated as if FairRate’s current 5-year fixed benchmark applies to them.

What the checker is — and is not

It is

An independent educational comparison layer for a supported written 5-year fixed renewal offer, using transparent methodology and benchmark context.

It is not

A mortgage quote, approval, broker recommendation, guarantee of savings, or promise that another lender or rate is available to you.

Have a Canadian 5-year fixed renewal offer?

Start with the free checker. No email is required for the free result, and paid reports are optional.

Start free renewal check →
Methodology and data sourcesRead more →Why FairRate is independentRead more →Why FairRate is not a brokerRead more →How FairRate makes moneyRead more →

Quick answer

Which FairRate tool should you use before renewing?

Start with the free renewal-offer checker when you already have a written Canadian 5-year fixed renewal offer. Use the calculator when you want to estimate the payment and interest impact of a rate difference, then use the guides to prepare for negotiation or switching.

  • Offer checker: assess a supported written 5-year fixed renewal offer against FairRate market context.
  • Renewal calculator: estimate payment and interest differences between renewal-rate scenarios.
  • Switching-cost guide: identify costs that can affect whether moving lenders is worthwhile.
  • Negotiation resources: prepare questions and a counter-offer before signing a renewal.