2026 Canadian Mortgage Renewal Desk
Over 70% of Canadians sign their bank's first renewal offer and overpay by thousands. Use our free calculators, review a sample rate comparison, and book a call for a real quote. Published tables are samples, not today's rates.
MortgageRenewalHub.ca is LendCity Mortgages' renewal desk (Mortgage Architects FSRA #12728). Free. No credit pull · No obligation · Licensed professionals
Canadian semi-annual compounding. Educational estimate — a licensed broker will quote your exact numbers.
What stage are you at?
Guide, calculator, sample rates, or a free call — pick the path that matches where you are.
What to Do — Month by Month
Start 12 months early to maximize your options and savings.
- 01
12 months before
- Locate your documents — maturity date, balance, charge type
- Check your credit score (Equifax or TransUnion)
- Pay down debts that will hurt requalification
- 02
6 months before
- Book a free meeting with a mortgage broker
- Compare current market rates
- Pick a term and rate type (fixed vs. variable)
- 03
120 days before
- Lock a rate hold with your broker or new lender
- Apply if you are switching lenders
- Gather NOA/T4, income proof, void cheque — checklist
- 04
30 days before
- Confirm approval if you are switching
- Sign the new mortgage commitment
- Confirm the new payment and start date
- Shopping
- One competing quote is often enough to save thousands.
- Over 70% sign the bank's first offer — and overpay.
- Rate gap
- Broker-channel quotes typically beat the first letter by 0.25–0.75%.
- The first renewal letter is almost never the best rate.
- Stress test
- Uninsured straight switches are prescribed-MQR exempt since Nov 21, 2024.
- B-20 and lender overlays can still apply; refinances still face the MQR.
- Broker cost
- $0 to you — the lender pays the finder's fee on funding.
- A 0.5% gap on $600,000 costs over $15,000 over 5 years.
- Charge type
- Standard charge mortgages switch lenders easily.
- Collateral charges (TD and some others) need legal fees to move.
- Timing
- 120 days before maturity you can lock a rate hold.
- Do nothing and the lender may auto-renew on a weaker rate and term.
One competing quote is often enough to save thousands.
Over 70% sign the bank's first offer — and overpay.
Broker-channel quotes typically beat the first letter by 0.25–0.75%.
The first renewal letter is almost never the best rate.
Uninsured straight switches are prescribed-MQR exempt since Nov 21, 2024.
B-20 and lender overlays can still apply; refinances still face the MQR.
$0 to you — the lender pays the finder's fee on funding.
A 0.5% gap on $600,000 costs over $15,000 over 5 years.
Standard charge mortgages switch lenders easily.
Collateral charges (TD and some others) need legal fees to move.
120 days before maturity you can lock a rate hold.
Do nothing and the lender may auto-renew on a weaker rate and term.
Sample comparison. Book for a real quote.
- Sample comparison. Book for a real quote. Published tables are illustrative, not a live rate sheet. Bank first offers often sit 0.25–0.75% above broker-channel quotes. Renewing in 90 days?
- When to start: 120 days before maturity to lock a rate hold; shop with a mortgage broker (free — paid by lender).
- Switch lenders: Uninsured straight switches are exempt from the prescribed MQR since November 21, 2024; B-20 and lender overlays remain — see our switching guide.
- First-time buyer? See FirstHomeGuide.ca for purchase basics; renewal help from LendCity Mortgages.
Facing a Payment Increase at Renewal?
CMHC projects roughly one million Canadian households renewing in 2026 — about 13% below the 2025 peak of ~1.2 million, many from 2020–2021 rates near 2%. Read the 2026 wave brief. The Bank of Canada has flagged payment shock as a central theme: for most renewers, payments go up, not down, unless you shop for a better rate.
What Is a Mortgage Renewal?
A mortgage renewal is what happens at the end of your mortgage term — not the end of your mortgage entirely. Most Canadians have a 25-year mortgage but a 5-year term. Every 5 years, that term ends and you renew.
At renewal, your lender will send you an offer. You can accept it, negotiate for a better rate, or switch to a different lender. Uninsured straight switches are exempt from the prescribed MQR since November 21, 2024, but B-20 and lender overlays can still apply.
The #1 Mistake Canadians Make at Renewal
Over 70% of Canadians sign their bank's first renewal offer without shopping around. Banks count on this. A 0.5% rate difference on a $600,000 mortgage costs you over $15,000 in extra interest over 5 years. Review the sample rate comparison before you auto-renew.
Top 5 Ways to Save at Renewal
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Shop Around — Don't Auto-Renew
Your bank's first offer is almost never their best rate. Getting one competing quote is often enough to save thousands.
-
Use a Mortgage Broker
Brokers access 30+ lenders simultaneously — including monolines unavailable directly. And their service is free to you.
-
Lock in a Rate Hold Early
Start shopping 120 days before your renewal. Lock in today's rate and you're protected if rates rise before your maturity date.
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Know Your Charge Type
Standard charge mortgages switch lenders easily. Collateral charges (TD and some others) require legal fees to move.
-
Consider Your Term Length
A shorter term (1-2 year fixed) may offer a lower rate today and let you lock in again when rates fall further.
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Extend Your Amortization
If cash flow is tight, extending your amortization can reduce your payment by hundreds per month.
Featured Guides
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Complete Renewal Guide
Everything you need to know — from 12 months out to renewal day.
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What Is a Mortgage Renewal?
Term vs amortization, the letter from your bank, and what you can actually change.
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Switching Lenders
Uninsured straight switches are prescribed-MQR exempt since Nov 2024; B-20 overlays remain.
-
Payment Shock
Why 2026 renewals still hurt if you bought in 2020–2021 — and how to soften the payment.
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Best Renewal Rates
How renewal rates work, why your bank's first offer is rarely the best, and where to find better.
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Collateral vs Standard Charge
Why TD switches cost more — and when the rate savings still win.
Google reviews of LendCity Mortgages
Mortgage Renewal Hub is LendCity Mortgages’ renewal desk (Mortgage Architects FSRA #12728). These are verified Google reviews of LendCity Mortgages — the same brokerage — not reviews collected for this site. We lead with renew, refinance, and remortgage comments where they exist.
“Kirann did a wonderful job with my refinance. She really took the time to understand all of my needs. She was patient with answered all of my calls throughout…”
“Scott and his team were very responsive and quick to address any questions and concerns we had throughout the process of refinancing our home. They presented…”
“I remortgaged with Lendcity Mortgages and I would highly recommend them. They were always available throughout the process to answer my questions and were able…”
“Scott and his team at LendCity™ mortgages made the process so simple and time effective. They got me a much better rate than dealing directly with the banks…”
“Scott and his team was very helpful in finding me a better rate compared to other banks. The team is also very professional and informative.”
“I can't recommend Gillian Irving and Scott Dillingham at LendCity™ highly enough. My husband and I worked with them on a surprise purchase that ended up being…”
“I recently worked with Scott and Aya on a mortgage transaction and had a positive experience. They were knowledgeable, responsive, and focused on achieving…”
“Great working with Lend City Mortgages! I truly appreciate how Scott and Kirann handled the entire process—professional, efficient, and always on top of…”
Mortgage Renewal FAQ
What are the best mortgage renewal rates in Canada for 2026?
Do I have to pass a stress test to switch lenders at renewal?
How much can I save by shopping around at renewal?
Is a mortgage broker free to use?
What happens if I do nothing at renewal?
When should I start thinking about my renewal?
Talk to a licensed mortgage broker — it's completely free. We'll review your renewal options, compare rates from 30+ lenders, and build a personalized strategy.
Not Sure Where to Start?
Talk to a licensed mortgage broker — it's completely free. We'll review your renewal options, compare rates from 30+ lenders, and build a personalized strategy. No obligation · No cost · Licensed professionals.