Mortgage Renewal Shock Calculator
Enter your old rate, new rate, and remaining balance. We'll show you exactly how much more you'll pay each month — and over 5 years — using the semi-annual compounding required by the federal Interest Act.
Your renewal details
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Why so many Canadians face renewal shock in 2026
Between 2020 and 2022, Canadian 5-year fixed mortgage rates dropped as low as 1.39%. Those mortgages renew in 2025–2026 into a market where the best 5-year fixed rates sit between 4.5% and 5.5%. On a $500,000 balance, that's often $800–$1,200 more per month.
This calculator uses semi-annual compounding as required by section 6 of Canada's Interest Act — not the monthly compounding used in the US. That's why our numbers will be slightly lower than an American calculator for the same rate.
What you can do: Lock a rate hold 120 days before renewal, compare at least 3 lenders (banks quote higher than brokers 90% of the time), and consider extending amortization if the shock is severe.