Independent renewal check

Before you accept your bank's renewal offer, check the spread.

FairRate helps you compare your renewal offer against Canadian mortgage benchmark context. No broker calls. No credit check. No data sold.

FairRate is an independent information tool. Not a mortgage broker, lender, or financial advisor. Rate benchmarks are from Bank of Canada published data — for informational purposes only. Not financial advice. Consult a licensed mortgage professional before making any mortgage decision.

Renewal Defense Report

CA$24

Start with a free preview, then unlock the full report for source details, spread explanation, and questions to ask before signing.

✓ Free renewal check first
✓ Estimated cost gap
✓ Plain-English explanation
✓ Questions to ask before signing

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Commitment Letter Analyzer

CA$34

Upload your mortgage commitment letter and get a plain-English explanation of rate, fees, penalty language, and terms.

✓ Rate context
✓ Fee review
✓ Penalty language notes
✓ Plain-English term summary

Analyze Letter →

Independent by design

FairRate is not a lender, broker, or financial advisor. We do not arrange mortgages, take applications, or earn lender commissions. We do not sell your information.

See exactly what you get before paying

Before you sign your renewal offer, see how it compares.

Sample report — CA$450,000 mortgage, 5-year fixed, renewal offer at 4.89%

Renewal Defense ReportSample

Fairness Verdict

Slightly Above Market

Bank of Canada Benchmark Comparison

Your renewal offer

4.89%

5-year fixed

BoC benchmark

4.34%

Insured 5yr+ avg

Estimated Annual Cost Gap

CA$2,475

More per year than the BoC benchmark · Over 5 years: CA$12,375

Negotiation ScriptPaid

"I'd like to discuss my renewal rate. Based on Bank of Canada published data for 5-year fixed uninsured mortgages, the current national average is significantly below the rate you've offered. I'd like to request you match the BoC benchmark of 4.34%, or explain why your offer sits 55 basis points above this published rate. I'm prepared to explore alternatives if we can't reach an agreement — and I have the data to back that decision."

🔒

Unlock full report

Includes negotiation script, benchmark detail & action plan

Example only. Your actual result depends on your balance, quoted rate, term, rate type, province, and the latest available benchmark data when your report is generated.

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Full Renewal Defense Report — CA$24 · No credit check · No data sold

How it works

Enter your renewal details

Balance, quoted rate, term, rate type, equity type, and province.

See the free preview

Get a quick educational snapshot before paying.

Unlock the full report

See the spread, estimated cost gap, and questions to ask before signing.

Frequently Asked Questions

Is FairRate a mortgage broker?

No. FairRate is an independent information tool. It is not a mortgage broker, lender, or financial advisor.

Will a broker call me?

No. FairRate does not sell your information to brokers or lenders.

What do I get in the report?

The report explains your renewal spread, estimated cost gap, benchmark source details, and questions to ask before signing.

Run Free Renewal Check →

Regulatory Disclaimer: FairRate is an independent information and education tool. We are not a mortgage broker, lender, or financial advisor and are not licensed under any provincial mortgage brokering legislation, including the Mortgage Brokerages, Lenders and Administrators Act (Ontario) or equivalent provincial statutes. We do not arrange mortgages, solicit mortgage applications, assess borrower eligibility, or provide credit of any kind. Rate benchmarks are sourced from Bank of Canada published data and are for informational purposes only. They do not represent a guaranteed rate, a rate offer, or financial advice. Results may not reflect your specific lender, credit profile, or market conditions at time of application. Always consult a licensed mortgage professional before making any mortgage decision.