Welcome to Kanetix® where you can compare mortgage rates easily and online in minutes. If you are shopping around for a new mortgage because your mortgage is up for renewal, this is the place for you.

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  • Simply select your province of residence, click "GO"
  • Answer a few simple questions
  • Compare mortgage rates that are updated daily, as they change

Instantly you'll be able to compare a variety of mortgage rates helping you find the best mortgage renewal rate. You also have the option of securing any of the mortgage rates offered on our website. This means that we not only display the rates but give you an opportunity to claim them. By filling out a quick online application you'll be able to obtain a rate guarantee certificate, if you meet the terms and conditions of the mortgage lenders and brokers featured through Kanetix.

What is a mortgage renewal?

The term of the mortgage is the length of the mortgage loan. This is different than the amortization period. A mortgage is usually amortized over say 20 to 35 years, with a shorter term (usually one to 10 years). At the end of the term, the remaining balance of the principal (amount of money borrowed) can either be paid off or a new mortgage agreement can be arranged at a new interest rate.

Borrowers have two choices when their mortgage comes up for renewal; remain with the current lender or find a new lender. You do not have to renew your mortgage with the same lender; you can choose to move your mortgage. Why bother looking for a new mortgage lender? Simply, a new mortgage lender may offer you better terms like lower interest rates or a different mortgage product that offers you more flexibility and is a better fit for your lifestyle.

Get a leg up on your mortgage renewals

Even though your mortgage lender will notify you about a month prior to your mortgage renewal, you should start comparing mortgage rates a few months before your mortgage renewal.

With a head start of a few months, you have an opportunity to see what other mortgage offers are out there and get the best mortgage rate possible. Getting the lowest mortgage rate is certainly worth a few minutes of your time. You're definitely at the right place, as Kanetix has the mortgage tools and a mortgage glossary to help you figure it out.

Mortgage renewal cost

When refinancing your mortgage with a new lender, they will treat your mortgage as a new mortgage (it is to them after all). As a result, you will want to fully understand the mortgage renewal costs you may run into when switching lenders, if any. Ask both the lender with whom you currently have your mortgage, and the lender that you are thinking of moving to as there may be fees on both sides. But, don't forget to ask your new mortgage lender if they will cover these costs; sometimes they will in order to get you to move your mortgage.

Kanetix can help you compare mortgage rates and help you locate lenders that may have some flexibility with renewal costs.

This summary is for informational purposes only and should not be relied upon without verification by contacting a mortgage professional.

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