Summary: Current Financial Consumer Agency of Canada (FCAC) research shows that many mortgage holders compare lenders, either themselves or with help. At renewal, comparison can be a practical way to understand written options; it is not a rule that every homeowner should switch.
What the current research shows
FCAC’s 2026 data story on mortgage renewal decisions reports that almost 80% of mortgage holders consider comparing lenders important. When asked about shopping for their current mortgage, 48% said they personally compared lenders and 36% said someone else, such as a broker, compared for them. The research also found that 20% did not compare lenders at all.
Why it matters at renewal
These findings describe mortgage-holder behaviour, not a recommendation to move your mortgage. A renewal offer can be convenient, but comparison is a normal decision step when you need to understand whether the rate, payment, term and features fit your circumstances. FCAC also notes that some consumers choose a lender because they already bank there and that some were unaware negotiation was available.
What to compare or confirm
- the written rate, term, payment and remaining amortization;
- prepayment privileges, portability and penalty wording;
- fees or conditions that could apply if you change lenders; and
- whether the offers you are comparing use the same balance, term and payment frequency.
How this connects to your renewal workflow
Start by recording the terms you have in writing. Then use the same assumptions to estimate the payment and identify the questions or missing details that matter before signing. The goal is a clearer comparison, not a site-generated lender recommendation.
Primary source
Financial Consumer Agency of Canada — Exploring consumer behaviour in mortgage renewal decisions
Published: March 2, 2026
Updated by source: June 24, 2026
Source checked: September 4, 2026
Build your Renewal Decision Pack after you have gathered the terms you want to review.