How much below posted can you negotiate?
Big-bank posted rates are a shelf price. The rates self-reported by Canadian borrowers online show how far under that shelf recent approvals and renewals have landed. As of October 3, 2026.
Posted vs what people at that bank report
Each row is one bank and one term. The navy dot is the bank's uninsured posted rate in today's snapshot. The teal dot is the median rate people report receiving from that bank over the last 30 days. A public discussion of the gap uses rows with N of at least 10. Smaller rows stay on the chart only with a small-sample label.
TD Bank · 5-year fixed
N = 6 · small sample
Reported 4.30% · posted 5.35% · 1.05 pts below posted
TD Bank · 5-year variable
N = 31
Reported 3.60% · posted 4.25% · 0.65 pts below posted
TD Bank · 3-year fixed
N = 24
Reported 4.10% · posted 5.15% · 1.05 pts below posted
Royal Bank of Canada · 5-year variable
N = 9 · small sample
Reported 3.55% · posted 3.95% · 0.40 pts below posted
Royal Bank of Canada · 3-year fixed
N = 16
Reported 4.10% · posted 4.80% · 0.70 pts below posted
Scotiabank · 5-year fixed
N = 7 · small sample
Reported 4.25% · posted 4.90% · 0.65 pts below posted
Rows with N under 10 are labeled small sample. Comparisons without a posted rate in the snapshot are left off the chart.
- TD Bank 3-year variable (N = 8) has no posted rate in this snapshot.
- Canadian Imperial Bank of Commerce 3-year fixed (N = 5) has no posted rate in this snapshot.
- Scotiabank 3-year fixed (N = 12) has no posted rate in this snapshot.
- Scotiabank 5-year variable (N = 19) has no posted rate in this snapshot.
Illustration, not a quote. On a $500,000 mortgage amortized over 25 years, the gap between TD Bank's posted 5.15% and the reported median of 4.10% (N = 24) is about $300 a month. Both rates are rounded to the nearest 0.05. Your balance, amortization, and payment frequency will differ.
Rates we can publish, by bank
TD Bank
- 5-year variable: reported 3.60% vs posted 4.25% (N = 31), 0.65 pts below posted.
- 3-year fixed: reported 4.10% vs posted 5.15% (N = 24), 1.05 pts below posted.
Royal Bank of Canada
- 3-year fixed: reported 4.10% vs posted 4.80% (N = 16), 0.70 pts below posted.
Canadian Imperial Bank of Commerce
No Canadian Imperial Bank of Commerce product currently has both N of at least 10 and a posted rate in the snapshot.
Bank of Montreal
No Bank of Montreal product currently has both N of at least 10 and a posted rate in the snapshot.
Scotiabank
No Scotiabank product currently has both N of at least 10 and a posted rate in the snapshot.
A renewal conversation, step by step
- Get the offer in writing. Ask for the term, fixed or variable, insured status, prepayment terms, and the penalty method before you compare the rate.
- Place it against reported rates. Use the renewal offer checker to see where the offer sits versus rates people report for that term and type, and versus the bank's posted rate.
- Get a competing quote. Ask a mortgage broker and at least one other lender for the same term. Take the competing number back to your current bank.
- Ask the bank to move. Request a match to the reported median for that product, or a written reason the offer sits above it. Mention you are comparing posted rates from other lenders.
- Compare the whole contract. A lower rate with a harsh break fee or tight prepayment can cost more if you sell or refinance. Price the penalty before you accept.
Start with the renewal offer checker and the real mortgage rates table, then read the live posted rates on the rate comparison.
Broker vs bank
At the bank
The posted rate is the number on the shelf. Retention desks often move when a customer has another approval in hand, especially in the four months before renewal. The gaps above are the room other customers have already found, not a promise that the same discount is open today.
With a broker
A broker can quote lenders that do not keep a branch posted rate at all. Those quotes are often already close to the lowest posted rate on our comparison. Use one as the competing number in step 3, then decide whether switching costs beat the payment difference. The renewal calculator prices that tradeoff.
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Negotiation questions
How much below posted can you negotiate on a Canadian mortgage?
It depends on the bank and the product. The widest gap we publish (N at least 10) is TD Bank 3-year fixed: posted 5.15% versus a reported median of 4.10% (N = 24), 1.05 pts below that posted rate. As of October 3, 2026.
Should I use a broker or negotiate with the bank?
Do both. A bank discount usually appears after you ask, especially at renewal. A broker can shop lenders whose posted rates are already near the bottom of the market, and that quote is leverage with your current bank. Neither path is an offer from this site.
Is a rate people report the rate I will be offered?
Self-reported, unverified, and not a mortgage offer. Reports are self-reported by Canadian borrowers online. Your credit, equity, insured status, and the day you apply all change the rate. Use the median as a reference point for the conversation, then confirm the rate with the lender.