How do I compare Ontario mortgage renewal rates?
Your Ontario renewal rate is personalized, so compare your existing lender’s renewal offer with personalized alternatives before your maturity date. Decide whether to renew with your current lender, switch lenders, or change the mortgage, then compare the terms and conditions of each quote. This guide covers renewal rates and options; to estimate how a different rate could change your payment, use the mortgage renewal payment calculator. For help reviewing a specific renewal offer, see mortgage renewal help.
Compare personalized renewal options
| Renewal option | Current pricing | What to review |
|---|---|---|
| Shorter fixed term | Personalized quote only | Payment certainty and timing |
| Longer fixed term | Personalized quote only | Budget and expected plans |
| Variable term | Personalized quote only | Comfort with lender Prime changes |
Start before maturity
Starting before your maturity date gives time to review your existing lender’s offer and compare personalized alternatives. Switching may involve qualification, legal, appraisal, or discharge considerations depending on the transaction.
What affects your renewal quote
Your remaining balance, borrower qualifications, property, loan-to-value, lender, requested term, and transaction timing can affect renewal pricing and availability.
How to compare renewal options
- Review the maturity date, remaining balance, and existing lender offer.
- Confirm whether you plan to switch lenders, change the mortgage, or borrow more.
- Use the renewal payment calculator to test payment comfort with your quoted options.
- Request a personalized quote before making a renewal decision.
Related MortgageWave resources
Ontario rates hub
Compare all current researched best rates.
Renewal payment calculator
Estimate how your payment could change at renewal.
Renewal help
Compare your bank renewal before signing.
Personalized quote
Confirm live lender availability.
FAQs
Personalized renewal quotes only. Pricing and availability depend on the transaction and lender assessment. OAC.