Mortgage Renewal Calculator

    See how your monthly payment could change when you renew your mortgage at a different rate. Compare your current payment to potential renewal scenarios.

    $
    $10,000$2,000,000

    The amount still owing on your mortgage

    %
    0.5%15%

    Your existing mortgage rate (from 2019-2021 it was often 1.5-2.5%)

    %
    0.5%15%

    Current 5-year fixed rates are around 4.5-5.5% (Jan 2026)

    years
    1 years30 years

    Years left on your original amortization schedule

    Monthly Payment Change

    $520.21

    Current Payment

    $2,119.61

    Renewal Payment

    $2,639.82

    Yearly Difference

    $6,242.54

    Extra Interest Over Term

    $124,850.73

    Current Payment$2,119.61
    Renewal Payment$2,639.82
    Yearly Difference$6,242.54
    Extra Interest Over Term$124,850.73

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    Rate source: Bank of Canada

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    Data from Official Sources:BoC

    Related Guides

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    What Happens When Your Mortgage Renews?

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    Should You Switch Lenders at Renewal?

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    Compare Current Mortgage Rates

    See what rates different Canadian lenders are offering right now.

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