Mortgage rate review
Priya Patel
5-yr fixed · renews Mar ’29
A
At or below market
Current rate 4.64% vs. today's 4.94% (5-yr fixed)
Current rate
4.64%
Today's market
4.94%
Mortgage balance
$610,000
Payment now
$3,424/mo
At market rate
$3,527/mo
Potential saving
—
At or below today's market rate — no penalty worth paying to switch right now. Hold and keep monitoring.
Recommended next step
Competitively priced today — hold, and keep monitoring the market.
Payment estimates assume a 25-year amortization with Canadian semi-annual compounding. Penalty ≈$7,076 estimated by the 3-month interest method — No renewal date on file — showing the three-month-interest floor. Fees assume ~$1,500 legal/appraisal — often lender-covered on a straight switch. Confirm exact figures with the lender. Illustration only — not a mortgage approval or financial advice.
Monitored by RateMonitoring · ratemonitoring.ca — grade your own mortgage free, any time.