Renewal strategy, refinance math, and cutting interest cost at the term change.
A mortgage rate hold is free: it caps your rate for 90 to 120 days at most lenders, and most will still give you the lower rate if the market drops. Taken now, a 120-day hold covers both the October 28 and December 9 Bank of Canada decisions.
CMHC puts about 1.15 million Canadian mortgages up for renewal in 2026, on top of 1.5 million already renewed. A $600,000 mortgage from 2021 at 1.99% goes from $2,537.81 a month to $3,046.84 at today's best insured fixed rate.
Most Canadian lenders allow a penalty-free renewal about 120 days before maturity, and some allow more. See what the major banks publish, how renewing early differs from breaking early, the start-date trap that can cost thousands, and how rising bond yields affect timing in 2026.
Already have an account? Sign in
Use the email you registered with.
New here? Create a free account — it unlocks the full rate board.
Redirecting you to
Our AI-powered rate engine, IntelliRate®, will find you mortgage rate offers through broker-negotiated deals — matched to your file across banks, monolines and local credit unions.
Not moving? Open the application.
