3-year fixed mortgage renewal calculator
A 3-year fixed lets you re-shop halfway through what would have been a 5-year term. In a falling-rate cycle, this often beats locking in for five years. Compare your bank's 3-year offer against today's market. Today's lowest advertised Canadian mortgage rate is 4.29% (5-year fixed) — refreshed weekly.
Slide, type, or tap any value below — your monthly payment and 5-year savings update instantly.
Poor — your bank is charging you a significant premium.
Frequently asked
When does a 3-year fixed beat a 5-year fixed at renewal?
When you expect rates to be materially lower in 24–36 months. If the 3-year rate is within 0.20% of the 5-year, and you believe the Bank of Canada will keep cutting, the 3-year usually wins on a 5-year lookback.
Is a 3-year fixed harder to qualify for at renewal?
No. The qualifying rules are identical to a 5-year fixed. And since November 2024, if you're an uninsured borrower switching lenders at renewal without increasing the loan or amortization, you're exempt from the stress test entirely.
What happens at the end of the 3 years?
You renew again — same process. If rates have dropped, you capture the lower rate 2 years sooner than a 5-year holder. If they've risen, you pay more. The 3-year is a bet on the rate direction over the medium term.