Your mortgage renewal could cost $422 more every month. 1. Canadian lenders let you lock in your renewal rate up to 120 days before your mortgage matures — so if you renew in January 2027, you should be securing your rate hold by mid-September 2026 at the latest. → 120 days 2. The best insured five-year fixed rate right now is 4.04% as of August 2026 — and locking it in protects you if rates climb before your renewal closes. → 4.04% 3. Here’s the win-win most Canadians don’t know: major lenders like RBC, TD, and BMO often offer a float-down option, meaning if rates drop after you lock in, you can still take the lower rate. 4. Renewing from 2.0% to 4.04% on a $400K mortgage costs exactly $422 more per month — that’s $5,064 extra per year straight out of your budget. → $5,064/year Full guide at getwealthy.blog 📖 Want the full breakdown? Read the full guide on our blog: https://getwealthy.blog/mortgage-rate-hold-120-days-canada-2026/ 🌐 getwealthy.blog #CanadaFinance #PersonalFinance #CanadianMoney #MoneyTips #Canada
Certified Financial Planner (CFP) and Chartered Investment Manager (CIM) with over 17 years of experience in Canadian personal finance. Spent 10+ years at one of Canada's Big Five banks, the last 7 focused exclusively on high-net-worth clients. Every guide is written with the same depth I bring to real client work — Canada-specific, CRA-verified, and always free.