Mortgages and Mortgage Renewal in Canada
Choosing, prepaying and renewing a Canadian mortgage.
Your mortgage is likely the largest debt you'll carry, and small decisions — fixed or variable, how much to prepay, whether to switch at renewal — move a lot of money. This hub is for Canadian homeowners and buyers making those decisions.
Start with the mortgage guide, then the decision you face now: the stress test if you're qualifying, fixed versus variable if you're choosing, the renewal guide if your term is ending, or prepayment versus investing if you have extra cash. Rules come from OSFI, CMHC and the Financial Consumer Agency of Canada, and calculators show the math on your own numbers.
Mortgage rates change constantly, so guides show the method and label any rate used as a scenario, not an offer.
What this hub helps you decide:
- Fixed or variable?
- How much do I qualify for under the stress test?
- Should I prepay or invest extra cash?
- Should I renew or switch lenders?
Updated November 2026 · 8 guides by Andrew
Start here
- The Mortgage Stress Test Explained (Minimum Qualifying Rate)
- Fixed vs Variable Mortgage in 2026: A Decision Framework
- Mortgage Renewal in 2026: Straight Switches, the Stress Test, and Negotiating Your Rate
- Mortgage Prepayment Calculator (Canada): What Extra Payments Save in 2026
New to real estate? Read the overview first: The Canadian Mortgage Guide: Rates, Terms, Renewal, and Prepayment.
All Mortgages & Renewal guides
CMHC Mortgage Insurance: Premiums, the 30-Year Amortization Rule, and When It's Worth It
CMHC's homeowner premium runs from 0.60% to 4.00% of the loan by loan-to-value. A 30-year amortization adds 0.20 of a point. The premium protects the lender.
Mortgage Renewal in 2026: Straight Switches, the Stress Test, and Negotiating Your Rate
Canada 2026: renewing with your lender skips the stress test, and so does a straight switch. Borrow more or stretch the amortization and the test applies.
Fixed vs Variable Mortgage in 2026: A Decision Framework
In Canada in 2026, choose a fixed mortgage if the payment must stay put, or a variable mortgage if you can absorb a prime move and may break the term.
The Mortgage Stress Test Explained (Minimum Qualifying Rate)
As of September 2026, you qualify at the greater of your contract rate plus 2 percentage points or 5.25%. The floor matters only under 3.25%.
Mortgage Prepayment Penalties: IRD vs Three Months' Interest
FCAC's own example, on a $200,000 balance at 6% with 36 months left, is a $3,000 three-month charge and a $12,000 interest-rate differential. The penalty is the higher figure. Your discount can make it larger.
Mortgage Prepayment Calculator (Canada): What Extra Payments Save in 2026
Canadian mortgage prepayment calculator: see the interest and years that extra payments and lump sums save, plus the big banks’ 10% to 20% privilege limits.
Mortgage Prepayment vs TFSA and RRSP: Which Dollar First
Put the extra dollar in order: costly consumer debt, the employer match, then an RRSP, a TFSA, or a mortgage prepayment.
Mortgage Prepayment vs Investing Extra Cash in Canada
The mortgage rate is a risk-free after-tax return. Any investment you choose instead has to clear that hurdle after tax and after risk.