Calculators
Renewal shock calculator
Canadian mortgages re-price every five years or less — the single biggest financial surprise most households face. Put your term in and see the payment at renewal across a band of rates, before the letter arrives.
Your mortgage
Bank of Canada's posted 5-year rate is currently 6.09% — most people negotiate below it, so try your own expected rate too.
Renews
2027-06
9 months away
Balance at renewal
$473,876.47
Payment now
$2,505.83
At 6.09%
+$893.04/mo
+36% · $10,716.48/yr
Payment at renewal, by rate
Dashed line is what you pay today.
Every scenario
| Rate at renewal | New payment | Change / month | Change / year |
|---|---|---|---|
| Renewing at the same rate 2.49% | $2,505.83 | $0.00 | $0.00 |
| Test rate − 1.00% 5.09% | $3,137.03 | +$631.20 | +$7,574.40 |
| Today's rate 6.09% | $3,398.87 | +$893.04 | +$10,716.48 |
| Test rate + 1.00% 7.09% | $3,670.41 | +$1,164.58 | +$13,974.96 |
| Test rate + 2.00% 8.09% | $3,951.00 | +$1,445.17 | +$17,342.04 |
At renewal the balance re-amortizes over the 20 years left, so the payment change is smaller than the rate change alone suggests. Canadian semi-annual compounding by default.