RateLens, Daniel De Sousa, Mortgage Associate, Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage

Renewal

Mortgage renewal rates

Your lender's renewal letter is a first offer, priced on the assumption that you'll sign it. Enter the rate below to see what signing it would cost you.

Beat my renewal offerOr see all our rates

No credit check, and no commitment.

Today's 5-year fixed

Featured rate
Rate
4.09%
APR
4.14%
Payment on $500,000
$2,655
You’d be qualified at
6.09%
Rate hold
120 days

Rates as of September 21, 2026 at 9:00 a.m. MT, subject to change without notice. O.A.C. Payment assumes a 25-year amortization with monthly payments and excludes property taxes, heat and condominium fees.

Rates as of September 21, 2026 at 9:00 a.m. MT

More than 24 hours old

Prime 4.45% · policy rate 2.25% (held September 2, 2026)

Compare your bank’s renewal offer

Your renewal letter quotes a rate, but it doesn’t show what that rate costs you over the term compared with other offers. Enter the numbers from the letter and we’ll work it out.

The amount still owing when the term ends.

As written on the renewal letter.

Step 0.01 percent

What moving to 4.09% is worth over 5 years

$10,798

Lower payments, plus the extra principal the lower rate pays down before the term ends.

Their payment
$2,466/mo
Our payment at 4.09%
$2,344/mo
Balance when the term ends
$315,742
$3,503 more paid down than their offer
Amortization
20 years, monthly
Compounding
Semi-annual, not in advance
Switch costs
None assumed
Our rate used
4.09%
Get my renewal rateOr see the full payment-shock breakdown

This calculator provides estimates only. Results are based on the information you enter and on assumptions that may not reflect your actual qualification, rate or costs. These include semi-annual, not-in-advance compounding for fixed rates, as required under section 6 of the federal Interest Act, and the mortgage default insurance premium tiers published by CMHC, Sagen and Canada Guaranty. It is not mortgage advice, a quote, a rate hold, a pre-approval or an offer of credit, and RateLens does not guarantee its accuracy or completeness. Your actual rate, payment, default insurance premium and closing costs will depend on your credit profile, income, the property, the lender’s current rates and policies, and other factors confirmed during a full application.

Estimates assume a straight switch with no change to your mortgage amount or amortization. Switching lenders may involve discharge, appraisal, legal or assignment fees; we will tell you which apply to your file.

Rules snapshot: September 21, 2026. Rates shown are calculation assumptions, not confirmed offers. Speak with Daniel De Sousa, Mortgage Associate, for a personalized quote. Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage, a licensed mortgage brokerage licensed by RECA.

~1.15M

Canadian mortgages renewing in 2026

Peak of the renewal wave (CMHC)

38%

of renewers expect a payment increase

Royal LePage, August 2026

120 days

you can hold a rate before maturity

Free, and it only works in your favour

Compare it with our other published rates

We calculate every payment ourselves, on $500,000 over 25 years. The qualifying column is the greater of the contract rate plus 2 percentage points or 5.25%.

15 rates

  • 10 year fixed

    uninsured
    Rate
    5.09%
    APR
    5.14%
    Payment on $500,000
    $2,934
    You’d qualify at
    7.09%
    Hold this rate

  • 5 year fixed

    insured
    Rate
    3.89%
    APR
    3.94%
    Payment on $500,000
    $2,600
    You’d qualify at
    5.89%
    Hold this rate

  • 5 year fixed

    insurable
    Rate
    3.99%
    APR
    4.04%
    Payment on $500,000
    $2,627
    You’d qualify at
    5.99%
    Hold this rate

  • 5 year fixed

    uninsured
    Rate
    4.09%
    APR
    4.14%
    Payment on $500,000
    $2,655
    You’d qualify at
    6.09%
    Hold this rate

  • 5 year variable

    insured
    Rate
    3.55%
    APR
    3.60%

    Prime − 0.90%

    Payment on $500,000
    $2,517
    You’d qualify at
    5.55%
    Hold this rate

  • 5 year variable

    uninsured
    Rate
    4.20%
    APR
    4.25%

    Prime − 0.25%

    Payment on $500,000
    $2,695
    You’d qualify at
    6.20%
    Hold this rate

  • 4 year fixed

    insured
    Rate
    3.94%
    APR
    3.99%
    Payment on $500,000
    $2,614
    You’d qualify at
    5.94%
    Hold this rate

  • 4 year fixed

    uninsured
    Rate
    4.19%
    APR
    4.24%
    Payment on $500,000
    $2,682
    You’d qualify at
    6.19%
    Hold this rate

  • 3 year fixed

    insured
    Rate
    3.79%
    APR
    3.84%
    Payment on $500,000
    $2,574
    You’d qualify at
    5.79%
    Hold this rate

  • 3 year fixed

    uninsured
    Rate
    4.04%
    APR
    4.09%
    Payment on $500,000
    $2,641
    You’d qualify at
    6.04%
    Hold this rate

  • 2 year fixed

    insured
    Rate
    4.24%
    APR
    4.29%
    Payment on $500,000
    $2,696
    You’d qualify at
    6.24%
    Hold this rate

  • 2 year fixed

    uninsured
    Rate
    4.49%
    APR
    4.54%
    Payment on $500,000
    $2,765
    You’d qualify at
    6.49%
    Hold this rate

  • 1 year fixed

    insured
    Rate
    4.74%
    APR
    4.79%
    Payment on $500,000
    $2,834
    You’d qualify at
    6.74%
    Hold this rate

  • 1 year fixed

    uninsured
    Rate
    4.99%
    APR
    5.04%
    Payment on $500,000
    $2,905
    You’d qualify at
    6.99%
    Hold this rate

  • HELOC

    uninsured
    Rate
    5.95%
    APR
    5.95%

    Prime + 1.50%

    Payment on $500,000
    —
    You’d qualify at
    7.95%
    Hold this rate

Rates shown are current as of September 21, 2026 at 9:00 a.m. MT and are subject to change without notice. Rates are available on approved credit (O.A.C.) only, are subject to the terms and conditions of the applicable lender, and may vary based on your credit history, income, down payment or equity, loan-to-value, property type and location, occupancy, amortization, and whether the mortgage is insured, insurable or uninsured.

Annual percentage rates (APR) shown assume a mortgage amount of $500,000, an amortization of 25 years with monthly payments, and include no lender or brokerage fees. Fixed rates are compounded semi-annually, not in advance, as required under section 6 of the federal Interest Act; variable rates are compounded monthly. Payment figures exclude property taxes, heating, condominium fees and default insurance premiums unless stated. Insured rates require mortgage default insurance and are available only on qualifying transactions.

Rates may contain errors or omissions and do not constitute an offer of credit, a rate hold or a pre-approval. Not all applicants will qualify. Contact Daniel De Sousa, Mortgage Associate, to confirm the rate available to you. Daniel De Sousa is licensed by the Real Estate Council of Alberta (RECA) and registered with Indi The Independent Mortgage Company Ltd. o/a Indi Mortgage.

Switching lenders at renewal no longer means redoing the stress test

Since November 2024, an uninsured straight switch (same borrower, same property, same balance, same remaining amortization, new lender) isn't re-stress-tested at the minimum qualifying rate. The rule that used to keep people at their existing lender no longer applies to that kind of switch.

A straight renewal with your existing lender was never stress-tested either. So staying put has no regulatory advantage over leaving. The choice comes down to who offers you the better rate and terms.

What a straight switch involves

A straight switch is the lightest transaction in Canadian mortgage lending. There's usually no appraisal, often no lawyer, and the new lender often covers the legal and discharge costs to win the business. You keep the same balance and the same amortization. Only the lender and the rate change.

A switch isn't a refinance. If you want to increase the balance or take equity out, that's a refinance. It's capped at 80% loan-to-value, and it's stress-tested normally.

  • Start 120 days before maturity. That's when a rate hold becomes available.
  • A straight switch keeps the balance and amortization the same. Changing either makes it a refinance.
  • Ask the new lender what it covers. Most cover the discharge and legal costs on a switch.

How renewal offers are priced

Lenders know what share of their customers sign the first renewal offer without shopping around, and they price the offer with that in mind. They're counting on many people not looking.

Comparing takes about two minutes. On a typical Alberta balance, the difference over a 5-year term can run to thousands of dollars.

Your rate

Why your rate may differ from the one above

The rates on this page are for a clean, standard file. These 5 things change the rate you're offered, and we'll tell you where your file stands before you apply.

  • Your down payment

    Under 20% down means an insured mortgage. Insured mortgages usually get lower rates because the lender's loss is covered, so putting more money down can mean a higher rate.

  • Insured, insurable or uninsured

    Each one is a separate price tier. A refinance can never be insured, so it's always priced in the top tier, no matter how much equity you have.

  • Your amortization

    Going past 25 years moves an insured file into a higher premium band and pushes some files out of the insured tier altogether. A 30-year amortization is available to first-time buyers and on new builds.

  • The property and how you use it

    The benchmark is an owner-occupied detached home in Edmonton. A rental, a second home, an acreage over about 10 acres, a rural water supply or a small condo unit each narrow the list of lenders and usually add to the rate.

  • Your credit and income profile

    Your Beacon score, how long you've had credit, and whether your income is salaried, commission, self-employed or rotational decide which lenders will look at your file. That's what sets the price.

Rate holds

What a rate hold is

A rate hold is a lender's commitment to honour today's rate for a set period (up to 120 days) while you shop, wait for a closing, or count down to your renewal.

It's free

There's no fee and no commitment to that lender. A single credit check through a brokerage won't damage your credit file.

It works one way

If rates fall before you close, you take the lower rate. If they rise, you keep the rate you held.

It isn't an approval

A hold reserves pricing. It doesn't confirm your income, down payment or the property. The pre-approval and then the full application do that.

Hold today’s rate

No credit check, and no commitment.

Brokerage pricing

Why a rate through a brokerage can be lower than a bank branch rate

A brokerage works from a different price list and a wider panel of lenders, and you go through one credit check instead of 5.

  • Banks discount from a posted rate

    A bank branch quotes a posted rate and discounts it only as far as it has to. A brokerage starts from the lender's broker-channel rate, which is already the price the lender competes with.

  • Monolines and credit unions only reach you through a brokerage

    A large part of the Canadian market has no branch network, including monoline lenders and most credit union mortgage products. A brokerage is the only way they get a file, so they compete on rate and terms.

  • One application and one credit check for many lenders

    If you shop 5 banks yourself, that's 5 applications and 5 credit inquiries. One application through Indi Mortgage is one inquiry for 30+ lenders, and it falls inside the mortgage-shopping window that credit bureaus already treat as a single event.

  • We compare the terms as well as the rate

    A very low rate often comes with a costly penalty. If you break the mortgage early, a 0.05% saving can cost you five figures. We show the penalty method next to the rate.

38% of recent Canadian buyers used a broker, and 48% of recent first-time buyers did, according to Mortgage Professionals Canada. The lender that funds your mortgage paysIndi Mortgage, and we tell you which lender and what the arrangement is before you sign anything. Read the compensation disclosure.

Get an email when this rate moves

Pick a target and we’ll email you when our published rate reaches it, or every time it changes. Daniel can also check what lenders are charging today for a file like yours. Renewing? Plan your renewal

Set a rate alert

Today’s 5-year fixed, uninsured rate is 4.09% (4.14% APR), as of September 21, 2026 at 9:00 a.m. MT. We’ll email you when it moves.

Email me

Today it's 4.09%. We'll email you when it's at or below your target.

Rate alert emails

We check once a day after we publish rates and send at most one email per move. We use your email only for these alerts. See our Privacy Policy.

Questions about these rates

Does switching lenders at renewal hurt my credit?
One application through Indi Mortgage means one credit inquiry, shown to multiple lenders. Credit bureaus already treat several mortgage inquiries in a short window as a single rate-shopping event. The effect on your score is small and temporary, and much smaller than the interest difference over a 5-year term.
Do I have to re-qualify to switch lenders?
You have to qualify, so your income, credit and property are verified. But on an uninsured straight switch, you aren't re-stress-tested at the minimum qualifying rate. That change, in place since November 2024, made switching possible for borrowers who wouldn't pass a fresh stress test today.
How early should I start?
About 120 days before your maturity date, which is when most lenders will hold a rate for you. Holding early costs nothing and works one way: if rates fall before you renew, you take the lower rate.
What if my bank matches the rate I bring them?
Then staying is probably the right call, as long as the terms match too. Ask about prepayment privileges and how the penalty is calculated, as well as the rate. If the matched rate comes with an IRD penalty based on the posted rate, the two offers aren't equal.

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Rate data

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Get this rate priced for your file

It's 6 questions and takes about two minutes, with no credit check to start. Daniel will come back with the rate your file prices at and its monthly payment.

Beat my renewal offerOr talk to Daniel

No credit check, and no commitment.