Decode your mortgage renewal letter before you sign.
Your lender's renewal letter is not necessarily the best available offer. Enter the key details from your letter and FairRate will help you understand what the offer means, what questions to ask, and whether the rate may deserve a second look.
Free to use. FairRate is paid by borrowers, not banks or brokers. Nothing you enter is shared with lenders.
Enter your renewal letter details
All fields optional except lender, province, balance, offered rate, and term.
Complete lender, province, balance, rate, term, and rate type to decode.
What your renewal letter is and is not
What it is
- ✓An offer from your current lender — not a guarantee or requirement
- ✓A starting rate that may or may not be competitive
- ✓A document that locks in nothing until you sign
- ✓An opportunity to negotiate or compare before the deadline
What it is not
- ✗Proof that the rate is the best available
- ✗Your only option at renewal
- ✗A document that requires an immediate response
- ✗Evidence that switching would cost more than staying
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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.