A headline percentage is not enough to judge a mortgage offer. Match the same term and rate structure, verify eligibility and source dates, and review the product terms that can change the real decision.
Already received a renewal offer from your lender?
Check the rate against current Canadian mortgage benchmarks before you sign. FairRate is paid by you, not by lenders, and does not sell your information to brokers.
Most borrowers compare only after they have already signed. Free check first; paid report options after the check: Rate Fairness Report CA$24 · Full Renewal Decision Report CA$49. No broker calls. No data sold.
Already have a renewal offer?
Enter the offered rate and mortgage balance to see how a supported Canadian 5-year fixed renewal offer compares with FairRate's available benchmark context. The free result shows the estimated rate gap and its approximate dollar impact before you decide whether a paid report is useful.
Original Canadian renewal research
FairRate is building a privacy-safe, voluntary dataset of supported Canadian 5-year fixed renewal offers. The research page documents the collection method, exclusions, publication threshold, and limitations. Headline findings remain hidden until the minimum valid sample is reached.
A configured fallback value can be useful for internal resilience, but it should not be displayed as though it were a newly observed broker floor, bank average, posted-rate ceiling, or current market rate. FairRate does not use fallback constants to manufacture live-looking mortgage-rate claims on this page.
Any current numeric market comparison should be tied to a usable source, an explicit observation date, the same product type, and clear limitations. When supported fresh context cannot be verified, the benchmark-backed checker should fail closed.
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.
FairRate is not a lender, mortgage broker, mortgage agent, brokerage, underwriter, law firm, or financial advisor. It does not make approval decisions, guarantee another rate, or promise savings or a particular decision outcome.
Educational rate-comparison questions and local transaction context for Ontario borrowers.
Educational rate-comparison questions and local transaction context for Alberta borrowers.
Educational rate-comparison questions and local transaction context for British Columbia borrowers.
Educational rate-comparison questions and local transaction context for Quebec borrowers.
Educational rate-comparison questions and local transaction context for Manitoba borrowers.
Educational rate-comparison questions and local transaction context for Saskatchewan borrowers.
Educational rate-comparison questions and local transaction context for Nova Scotia borrowers.
Educational rate-comparison questions and local transaction context for New Brunswick borrowers.
Educational rate-comparison questions and local transaction context for Newfoundland and Labrador borrowers.
Educational rate-comparison questions and local transaction context for Prince Edward Island borrowers.
There is no single rate that is fair for every borrower. Compare the same term and fixed or variable structure, then review mortgage characteristics, insurance status, eligibility, fees, penalties, prepayment privileges, portability, restrictions, and the date and source of any market context.
A province name does not create a FairRate province-specific benchmark. Provincial and local taxes, legal or notarial requirements, property costs, insurance, and lender availability can affect affordability and transaction costs, but any rate comparison still needs like-for-like product and eligibility assumptions.
FairRate does not present configured fallback constants as a current broker floor, bank average, or posted-rate ceiling. Its benchmark-backed checker currently supports Canadian 5-year fixed renewal offers only and fails closed when fresh supported comparison context cannot be verified.