Canadian Mortgage Renewal Offer Tracker
FairRate tracks anonymous mortgage renewal scenarios submitted by Canadian borrowers. Use this page to understand what banks are offering, what borrowers are comparing, and where small rate gaps may turn into large costs.
Recent renewal scenarios
Anonymous scenarios — no borrower names, no private details. Updated as new scenarios are reviewed.
| Lender | Province | Offer | Term | Balance Range | Scenario | FairRate Take |
|---|---|---|---|---|---|---|
| RBC | ON | 3.99% | 3-year fixed | $500K–$600K | Renewal with extra debt component | Rate looks reasonable; structure may matter more than the headline rate |
| TD | AB | 4.39% | 5-year fixed | $300K–$400K | Standard renewal | Compare against 3-year and outside quotes before committing to 5 years |
| Scotiabank | BC | 4.74% | 3-year fixed | $600K+ | Standard renewal offer | Potentially worth shopping — gap to benchmark may be meaningful at this balance |
| CIBC | ON | 4.29% | 5-year fixed | $400K–$500K | Early renewal offer | Check penalty and term tradeoff; early offers are not always the final offer |
| BMO | ON | 4.19% | 5-year fixed | $350K–$450K | Standard renewal | Rate context at time of offer matters — compare against current benchmark |
| RBC | BC | 4.49% | 5-year fixed | $700K+ | Renewal near 80% LTV | Switching friction may reduce options; rate gap cost still worth estimating |
| TD | ON | 4.09% | 3-year fixed | $400K–$500K | Standard renewal, borrower asked for review | Borrower asked for review before signing — improved offer received |
Got a renewal offer?
Check whether it is fair before you sign. FairRate compares your quoted rate against benchmark context and estimates the rate gap cost in dollar terms.
Check my renewal offer →Trust note
FairRate does not sell your information to lenders. We are paid by borrowers, not banks or brokers. All scenarios in the tracker are anonymized — no borrower names, no addresses, no private financial details.
Scenarios are reviewed before being added. The FairRate Take is educational context, not financial advice.
What the data shows
First offers vary
The same lender offers different rates to different borrowers depending on balance, province, term, and whether the borrower asks for a review. The first letter is a starting point.
Structure matters
Several tracker scenarios show that the headline rate was reasonable but the mortgage structure — HELOC component, LTV, collateral charge — created complexity that affected the real options.
Asking works
At least one tracker scenario shows that a borrower who asked for a review before signing received an improved offer. The comparison was evidence; the ask was specific.
Related tools and guides
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.