5-year fixed mortgage renewal calculator (Canada)
The 5-year fixed is Canada's most popular renewal term. It locks your payment for 60 months and — historically — carries the lowest posted rate on the rate sheet. Compare your bank's 5-year fixed offer against today's lowest broker-channel 5-year fixed rate. Today's lowest advertised Canadian mortgage rate is 3.35% (5-year variable (Prime - 1.10%) Ratehub.ca Exclusive) — refreshed weekly.
Drop your email and Jay will check your actual offer against today's best rates within one business day.
Slide, type, or tap any value below — your monthly payment and 5-year savings update instantly.
Very poor — this offer is well above what's available in the market today.
Frequently asked
Is a 5-year fixed still the best renewal choice in Canada?
It depends on where rates are in the cycle. In a falling-rate environment, a 3-year fixed often wins over five years because it lets you re-shop mid-cycle at lower rates. In a stable or rising environment, the 5-year fixed's payment certainty usually justifies the small premium.
How much can I save switching my 5-year fixed at renewal?
A 0.40% better 5-year fixed rate on a $500,000 mortgage saves roughly $8,400 in interest over the term, plus $85–$100/month in payment. Switching costs typically total $300–$1,500 for appraisal, discharge, and legal work.
What's the difference between insured and uninsured 5-year fixed rates?
Insured (under 20% down originally) 5-year fixed rates are usually 0.15%–0.30% lower than uninsured, because CMHC/Sagen/Canada Guaranty carry the default risk. At renewal, if your original mortgage was insured, you keep insured pricing for the amortization's life — a real advantage.