Mortgage renewal calculator
Compare renewal payment changes across rates, amortization choices, and remaining balances.
Compare renewal payment changes across rates, amortization choices, and remaining balances.
Compare renewal payment changes across rates, amortization choices, and remaining balances.
Over 1.2 million Canadian mortgages renew in 2026, and many were originally locked at sub-3% rates. Use this calculator to see exactly how much your new payment will be.
Typical 5-year fixed in April 2026: 4.2%–5.1%.
Enter your balance and amortization to see results.
Most fixed-rate Canadian mortgages run on 5-year terms. Borrowers who locked in during 2020–2021 (the pandemic ultra-low era) signed at rates of 1.5%–2.5%. Those terms mature in 2025–2026, and even after the Bank of Canada's seven cuts down to 2.25%, posted 5-year fixed rates sit at 4.0%–5.0%. A 50%–60% jump in payment is common.
| Balance | From 2.5% | To 4.5% | Monthly increase |
|---|---|---|---|
| $300,000 / 25y | $1,344 | $1,664 | +$320 |
| $400,000 / 20y | $2,118 | $2,528 | +$410 |
| $500,000 / 25y | $2,241 | $2,773 | +$532 |
| $700,000 / 25y | $3,137 | $3,883 | +$746 |
Last reviewed: April 23, 2026