Canada · rates as of Oct 2026
Mortgage Payment & Renewal Calculator
Payments the Canadian way (fixed rates compound semi-annually). For a new mortgage or your renewal: see the payment, the interest, and what a new rate does to your budget.
How Canadian mortgages are calculated
Under the federal Interest Act, fixed-rate mortgages state interest compounded semi-annually, not in advance. So a 4.29% rate works out to slightly less than 4.29% compounded monthly. Variable mortgages usually compound monthly; tick the box to model one. "Accelerated" payments are half (bi-weekly) or a quarter (weekly) of the monthly payment. That adds about one extra monthly payment a year and shortens the amortization.
Renewal reality check
Many mortgages taken out in 2020–2021 at under 2% renew in 2025–2026. The renewal view keeps your remaining amortization and shows the new payment, or, if you keep your old payment, how much longer you'd be paying. For reference, the Bank of Canada's weekly 5-year conventional (posted) rate was . Most borrowers negotiate a lower rate than the posted one.
What to do next
Mortgage rate comparison
Shop your renewal before you sign the lender's letter. [Partner link: rate comparison]
Compare rates →Mortgage broker
A broker can quote several lenders at once. [Partner link: broker referral]
Talk to a broker →Life insurance
Term life is usually cheaper than lender mortgage insurance. [Partner link: term life quotes]
Compare quotes →Sources & assumptions
This is an estimate, not a quote. Lenders round differently and may charge fees. Prepayment limits vary by lender. NorthNumbers isn't affiliated with any bank, lender, dealer or government agency. Nothing here is financial, tax or legal advice.