Mortgage Renewal Counter Offer Guide
Review the written terms of your Canadian mortgage renewal offer before signing. This page does not claim a special lender-, province-, or page-specific benchmark.
A rate cannot be classified as fair or unfair from the page title, lender name, province, or percentage alone. Compare like with like and verify the full product terms.
What to review before signing
Review the written offer
A renewal letter is one lender offer. It does not prove that the rate is fair, unfair, the lowest available, or the best overall product for your circumstances.
Compare like with like
A public advertised rate is not proof that you qualify for it. Match the same term and rate structure and include fees, penalties, portability, prepayment privileges, timing, and restrictions.
Ask for material terms in writing
Ask the lender to explain the offer and whether another renewal option is available. FairRate does not promise that the lender will improve the offer.
Switching and qualification limits
Do not assume that a same-lender renewal, straight lender switch, refinance, increased borrowing request, amortization change, or other material change follows identical qualification, documentation, fee, penalty, and timing rules.
A lower advertised rate is not proof that switching is available or cheaper after discharge, transfer, appraisal, legal or notarial, title-insurance, administration, promotional, and other possible costs or restrictions.
Paid reports are optional after the free result
The CA$24 Rate Fairness Report and CA$49 Full Renewal Decision Report add written educational review context for supported 5-year fixed offers. They do not guarantee another rate, approval, savings, or a predetermined accept, negotiate, or switch outcome.
Start With the Free Supported Check →Frequently asked questions
Can this page determine whether my Canadian mortgage renewal offer is fair?
No. The lender, province, or page title alone cannot determine fairness. Review the exact term, fixed or variable structure, remaining amortization, payment, penalties, prepayment privileges, portability, fees, conditions, and current like-for-like context.
What does FairRate Canada currently support?
FairRate Canada's benchmark-backed free checker and paid benchmark reports currently support Canadian 5-year fixed renewal offers only. Variable-rate and other-term offers should not be forced against that reference.
Does FairRate guarantee another rate or a negotiation outcome?
No. FairRate does not arrange mortgages, make approval decisions, guarantee another rate, promise savings, or promise that a lender will change an offer.
Important limitation: FairRate Canada is an independent consumer-paid educational comparison and reporting product — not a lender, mortgage broker, mortgage agent, law firm, financial advisor, or mortgage underwriter. FairRate does not arrange mortgages, take applications, approve credit, or sell mortgage inquiries to lenders or brokers. The current benchmark-backed checker and paid benchmark reports support 5-year fixed renewal offers only and use fresh public 5-year fixed comparison context when a usable source is available. Broader Bank of Canada data may be used for contextual purposes. Results are not a lender quote, approval, qualification result, personalized advice, or guarantee of a lower rate or savings. Verify current rates, eligibility, fees, penalties, product terms, and switching costs with the relevant lender and, where appropriate, a licensed mortgage professional or other qualified advisor.