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Mortgage Renewal

Renewing your mortgage is annoying at best, intimidating and expensive at worst. Get answers to your pressing renewal questions and tips for choosing the lender, rate and loan type that’s best for you.
Mortgage Renewal
Best Mortgage Renewal Rates
Mortgage Renewal Calculator
Mortgage Lender Reviews

Mortgage renewal basics

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Mortgage Renewal in Canada
Clay JarvisClay Jarvis
Finding out how mortgage renewal works can help you get a better deal on your next mortgage.
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Preparing for Mortgage Renewal Shock
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Take the sting out of your mortgage renewal by shopping around and understanding your options.
Variable or Fixed for Mortgage Renewal? Not an Easy Call
Variable or Fixed for Mortgage Renewal? Not an Easy Call
Clay JarvisClay Jarvis
Deciding between a variable or fixed mortgage rate at renewal requires balancing your present finances with your future needs.

Read more about the Bank of Canada's latest rate announcement.

The BoC makes policy interest rate announcements eight times a year. Find out how its latest decision might impact Canada's housing market.

Read our mortgage reviews

We’ve reviewed Big Banks, brokers, B Lenders and online-only lenders to help you finance your home purchase, refinance or renewal with confidence.

See what rates the Big 6 are offering

BMO Mortgage Rates
CIBC Mortgage Rates
National Bank Mortgage Rates
RBC Mortgage Rates
Scotiabank Mortgage Rates
TD Bank Mortgage Rates

Manage your mortgage with confidence

Help! My Mortgage Is Up for Renewal, but My Finances Have Changed
A change in income or credit score can affect how you approach renewing your mortgage. Read more.
Switching Mortgages: Guide to Changing Your Loan or Lender
You can switch mortgages at any time, but there are things to watch out for, like prepayment fees. Read more.
Amortization Period: What It Is, and How It Compares to Mortgage Term
An amortization period is the length of time it should take to pay off your mortgage. Read more.
Prepayment Penalty: How Much It Costs, How to Avoid It
Prepayment penalties depend on factors including the type of mortgage you have, lender rates and your prepayment amount Read more.
Should You Switch to a Fixed Rate for the Rest of Your Mortgage Term?
Switching your mortgage from a variable to a fixed interest rate can help make your mortgage more affordable if rates are rising. Read more.
The Cost of Breaking a Mortgage Contract
If you change your mortgage contract mid-term, expect to pay for it. Your penalty could be three months’ interest or the amount determined by your lender’s interest rate differential. Read more.
How to Negotiate Mortgage Rates
Do your homework on current rates, bolster your credit score and don't be afraid to ask, "Is that the best you can do?" Read more.
Understanding B Lender Mortgages
Also known as subprime lenders, B lenders provide mortgages for borrowers who can’t qualify at chartered banks. Read more.
What Is an Alternative Mortgage Lender?
Alternative lenders specialize in helping borrowers who can't get mortgages at federally-regulated banks. Read more.
How Private Mortgages Work
Higher rates, increased risk. Is a private mortgage right for you? Read more.