Latest Mortgage Rates Canada
Compare current rates from Canada's top lenders including Big 6 Banks and monoline lenders. Updated twice daily.
Mortgage Penalty Calculator
Calculate your mortgage penalty for breaking early.
🏠Mortgage Details
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⏱️Term Details
📊IRD Calculation (Fixed Rate)
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Your lender's current posted rate for a similar term
Big banks often use more punitive IRD formulas
💡 About Penalties
- • 3 Months Interest: Standard for variable rates
- • IRD: Often applies to fixed rates
- • Big Banks: May use posted rate at origination (higher penalty)
- • Monolines: Often use fairer IRD calculations
- • Porting: May avoid penalty when buying new home
Estimated Penalty
$7,369
3 Months Interest
3 Months Interest
$7,369
Based on your monthly payment
IRD Amount
$0
Interest Rate Differential
3 months interest ($7,369) is higher than your IRD ($0).
Monthly Payment$2,456
⚠️ Important Notes
- • This is an estimate. Contact your lender for exact penalty amount.
- • Some lenders use different IRD calculation methods.
- • Prepayment privileges may reduce your penalty.
- • Porting your mortgage to a new property may avoid penalties.