Before you sign your mortgage renewal, check if the rate is fair.
Enter your lender's offer and see whether it looks competitive, high, or worth negotiating — in about 60 seconds.
FairRate Canada is an independent consumer-paid mortgage renewal rate-checking report — not a mortgage broker, lender, brokerage, or rate marketplace. We do not arrange mortgages, sell leads, or receive lender commissions. Rate context uses public Canadian mortgage-rate data and Bank of Canada published data for informational purposes only. Not financial advice. Consult a licensed mortgage professional before making any mortgage decision.
Current Canadian mortgage benchmarks
Rate context as of June 9, 2026- Competitive 5-year fixed reference
- 4.04%
Public Canadian mortgage-rate pages · not a lender offer
Why this matters before renewal
Renewal letters are offers. They are not always the strongest rate or terms you may be able to ask for.
Borrowers can compare options, ask questions, and negotiate before accepting a lender's renewal offer.
FairRate turns the numbers into a clear report you can use before replying to your lender.
FairRate Mortgage Quote Audit
FairRate checks whether a Canadian mortgage quote looks fair before you accept it. The core framework compares your offer, estimates the Rate Gap Cost, and helps you decide whether to accept, negotiate, or compare alternatives.
Rate Gap Cost
Estimate how a small above-benchmark rate gap can turn into real cost.
Renewal Watch
See FairRate's living report on renewal fairness, rate gaps, and borrower decision patterns.
Renewal checkers
Browse lender, province, term, and rate-specific Canadian mortgage tools.
Check your quote
Enter your actual renewal offer and get a FairRate verdict.
Check a bank renewal offer
If your offer came from a major Canadian bank, start with the matching renewal page and then run the full checker with your actual numbers.
Who this is for
“Is this rate actually fair, or am I leaving money on the table?”
Use FairRate if your bank sent you a renewal offer and you want to know whether to accept it, ask for a better rate, or compare alternatives — before you sign.
Choose your report
See whether your renewal offer looks competitive, fair, slightly high, high, or needs review.
- ✓ Basic fairness verdict
- ✓ Benchmark comparison preview
- ✓ Rate gap context
Best for: “I want a basic written verdict before I respond to my lender.”
- ✓ Rate fairness verdict
- ✓ Benchmark comparison
- ✓ Estimated payment impact
- ✓ Negotiation questions
- ✓ Copy/paste lender email
Free check included before payment
Best for: “I want the complete picture before I sign — verdict, negotiation script, and before-you-sign checklist.”
- ✓ Everything in the Basic Snapshot
- ✓ Switch-vs-stay checklist
- ✓ Fixed vs variable considerations
- ✓ Prepayment and penalty warning checklist
- ✓ Broker quote checklist
- ✓ Phone script and stronger email
Designed for before-you-sign decisions
Coming soon: Lender Switch Advisor — CA$149 · Full lender comparison, switch-cost analysis, and penalty breakdown. Start with a rate check first →
Get Rate Alerts
We'll notify you when Canadian mortgage rates move in your province. Free — no spam.
Every other mortgage rate tool in Canada is paid by lenders. We are paid only by you.
FairRate earns nothing from lenders, brokers, or referrals. We do not sell your information. We do not arrange mortgages. When we tell you your rate is fair, it is because the data says so — not because a lender is paying us to say it.
Sample Mortgage Renewal Report
Illustrative sample only — CA$450,000 mortgage, 5-year fixed, renewal offer at 4.89%
Your offer appears above the comparable benchmark range. The practical next step is not panic — it is to ask your lender for a rate review before you sign.
+55 basis points above sample benchmark · 100 basis points = 1 percentage point
Your actual report uses your balance, quoted rate, term, province, amortization, and current Canadian benchmark context.
Sample only. Your actual report uses current Canadian benchmark context and your specific balance, quoted rate, term, rate type, province, and amortization.
Free check first · Basic Snapshot CA$24 · Recommended Before Signing Report CA$49 · 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 check
Get an instant educational snapshot before paying for a full report.
Unlock your report
See the full analysis, cost gap, negotiation tools, and before-you-sign checklist.
Frequently Asked Questions
Is FairRate a mortgage broker?
No. FairRate is an independent educational benchmark tool. It is not a mortgage broker, lender, law firm, or financial advisor. We do not arrange mortgages, make lending decisions, or provide regulated financial advice.
Will a broker or lender call me?
No. FairRate does not sell your information to brokers, banks, or lenders. The goal is to help you understand your offer before you respond.
What benchmark data does FairRate use?
FairRate uses publicly available Canadian mortgage rate context sourced from public market comparison sites. Bank of Canada data may also be used for broader rate context. Neither source is a guaranteed lender offer — they are published reference points used to give you a comparison before you respond to your lender.
What do I get in the paid reports?
The CA$24 Basic Snapshot gives a rate fairness verdict, benchmark comparison, estimated cost gap, negotiation questions, and a copy/paste lender email. The CA$49 Recommended Before Signing Report adds switch-vs-stay analysis, term strategy notes, prepayment and penalty warning checklists, a broker quote checklist, phone script, and before-you-sign checklist.
Regulatory Disclaimer: FairRate Canada is an independent consumer-paid mortgage renewal rate-checking report. We are not a mortgage broker, lender, brokerage, or rate marketplace. We do not arrange mortgages, sell leads, collect lender commissions, or receive referral fees of any kind. We are not licensed under any provincial mortgage brokering legislation, including the Mortgage Brokerages, Lenders and Administrators Act (Ontario) or equivalent provincial statutes. Rate context uses public Canadian mortgage-rate data and Bank of Canada published data. Results do not represent a guaranteed rate, a rate offer, lender approval, or financial advice. Always consult a licensed mortgage professional before making any mortgage decision.
FairRate is an information tool only. It is not a licensed mortgage broker, mortgage agent, financial advisor, or credit counsellor. This is not financial advice.