Skip to content
Housing Market Insider
Calculator

Mortgage Renewal Calculator

Compare your payment at today's rate with the rate you're offered at renewal, and see the interest cost over the new term.

Built on official Canadian sourcesUpdated 2026-11-12

Calculator

Results update as you type · Nothing you enter leaves your browser

Reference rates (Bank of Canada, not offers): Conventional mortgage, 1-year 5.49% (2026-11-04); Conventional mortgage, 3-year 6.05% (2026-11-04); Conventional mortgage, 5-year 6.19% (2026-11-04); Average 5-year+ fixed rate, new insured mortgages 4.12% (2026-08-01); 5-year conventional posted rate 6.19% (2026-11-04); Average variable rate, new insured mortgages 3.74% (2026-08-01).

New monthly payment

$2,746.97

+$682.25 vs. today's rate

Interest over the new term

$108,029

+$60,403 vs. today's rate

Balance at the end of the term: $323,211 (vs. $303,743 at your current rate).

Estimate only, based on the published rules listed below. Lenders, insurers and tax authorities apply their own criteria.

Before you renew

Federally regulated lenders must send a renewal statement at least 21 days before your term ends. You can compare offers from other lenders, and you aren't obliged to sign the first renewal offer.

Sources

Rules are summarized in our own words from official publications. Check the source and talk to your lender or a licensed professional before making a decision.

Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.