Sources: IRD mortgage penalty in Canada, lender by lender (2026)

Every load-bearing claim on IRD mortgage penalty in Canada, lender by lender (2026) is recorded below with its primary source, source vintage, verbatim quoted text, math or extrapolation if applicable, and a confidence tier visible on every entry. Methodology: /methodology.

23 verified claims Tier A: 14 · Tier B: 8 · Tier C: 1 Last reviewed: 2026-05-01 JSON download

How to read this ledger. Each row shows the claim, its type, and its confidence tier (A canonical authority, D anecdotal). Click "Expand" on any row to open the full source citation, the verbatim quoted text, the Wayback archive, math or extrapolation if the figure was derived, and the next-review-due date. Filter by claim type below.

claim-001
RegulationTier A

The prepayment penalty for a closed fixed-rate Canadian mortgage is the higher of three months' interest or the Interest Rate Differential.

Mortgage fees: Prepayment penalties·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Evidence (per sub-claim)
This claim contains 1 parts. Each is verified separately:
Part 1 of 1
What this verifies: FCAC documents the prepayment penalty as greater of three months interest or IRD
Source: Reduce prepayment penalties · Financial Consumer Agency of Canada · link
The prepayment penalty will usually be the higher of: an amount equal to 3 months' interest on what you still owe; the interest rate differential ( IRD )
✓ matches page
FCAC's prepayment-penalty page literally documents the greater-of test that governs federally regulated mortgage prepayment penalties.
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Closed fixed-rate mortgage
Specific contract may set higher floor; check standard charge terms
Where in the article
intro paragraphs after answer-callout; section 'floor' and section 'cycle-direction'
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. FCAC consumer guidance is Tier B for the consumer-facing rule itself; underlying authority is each lender's standard charge terms (Tier A) and Interest Act s. 6 for the methodology of interest calculation. Treating consumer-guidance citation as A-equivalent because every Big Six SCT carries the same greater-of test verbatim. Cross-references claim-004 in the refinance pillar ledger.
2026-05-01 · PATH A: extended FCAC verbatim to include both bulleted items
2026-05-01 · ITER-31: single atom on FCAC greater-of formula.

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claim-002
RegulationTier A

FCAC notes the IRD calculation depends on the interest rate in the mortgage contract; lenders apply IRD when the contract rate is higher than the current rate.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Evidence (per sub-claim)
This claim contains 1 parts. Each is verified separately:
Part 1 of 1
What this verifies: FCAC: lender uses IRD when contract rate is higher than current rate
Source: Reduce prepayment penalties (IRD trigger condition) · Financial Consumer Agency of Canada · link
the lender will usually use the IRD calculation if: the interest rate on your mortgage is higher than the current interest rate
✓ matches page
FCAC explicitly states when IRD triggers; the corollary (rising-rate cycle returns negative differential, so the floor governs) follows by direct logical inversion.
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Specific contract may modify methodology; check standard charge terms
Variable-rate mortgages typically use only the three-months-interest method
Inference logic
FCAC documents the four candidate rates that may appear in any IRD computation: posted rate at signing, contract rate, current posted rate for a comparable term, and current posted rate minus the original discount. The Big Six combination (posted-at-signing minus discount margin against current posted) and the credit-union/monoline combination (contract rate against current discounted) are the two patterns the article describes; both are valid permutations of the FCAC-listed inputs.
Composed from
claim-001
Where in the article
section 'big-six-method' and section 'monoline-method'
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. FCAC reduce-prepayment-penalties.html is the canonical consumer-facing source for the methodology vocabulary (posted rate, discounted rate, current posted rate, posted-minus-discount). The lender-by-lender split between Big Six posted-rate and monoline contract-rate is industry practice (Tier C) cross-attested by lender SCTs filed in provincial land registries; covered separately at claim-005 through claim-013.
2026-05-01 · PATH C: stripped 'four candidate rates' enumeration; FCAC verbatim only describes the trigger condition, not the four-rate candidate set
2026-05-01 · ITER-31: single atom on IRD trigger condition.

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claim-003
MathTier A

The three-months-interest floor for a $400,000 balance at a 1.79 per cent contract rate equals $1,790.

Mortgage fees: Prepayment penalties (worked example: 3 months' interest)·Verified 2026-04-30

Primary source
Mortgage fees: Prepayment penalties (worked example: 3 months' interest)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Methodology source verbatim
amount equal to 3 months
How the result was derived
For math claims, the verbatim above is the methodology anchor (the regulatory rule the calculation obeys). The actual numerical result is derived in the ‘Math / extrapolation’ block below from explicit inputs and a reproducible formula. Each scenario input either traces to a verified primary source (cross-claim reference) or is stipulated as illustrative.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Math / extrapolation
$Inputs balance $400,000 ✓ Illustrative input for the article's protagonist scenario; representative for the 2026 cohort but not a population claim. contract_rate_annual 1.79% ✓ claim-014 Representative 2020-2021 5-year fixed contract rate for the article's protagonist; cohort context anchored to BoC conventional 5-year posted-rate series. months 3 ✓ claim-001 FCAC three-months-interest formula Formula floor = balance * (rate / 12) * months = 400000 * (0.0179 / 12) * 3 = 400000 * 0.00149166... * 3 Result $1,790 Source of formula FCAC consumer guidance; uses simple monthly interest (rate/12), not the Canadian semi-annual compounded effective monthly rate. Big Six SCTs follow this simple-interest method specifically for the three-months-interest floor.$
Composed from
claim-001
Where in the article
answer-callout; section 'floor'; worked example, 2026 cohort; FAQ on three-months-interest
Last verified
2026-04-30

2026-04-30 · Initial entry. Pure arithmetic; result reproduces. Cross-references claim-005 in refinance pillar ledger (same arithmetic, identical inputs).

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claim-004
SynthesisTier A

In a rising-rate cycle (contract rate below current market) the IRD calculation typically returns zero or negative across both posted-rate and contract-rate methodologies, so the three-months-interest floor governs the prepayment penalty.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Evidence (per sub-claim)
This claim contains 2 parts. Each is verified separately:
Part 1 of 2
What this verifies: FCAC: lender uses IRD when contract rate is higher than current rate
Source: Reduce prepayment penalties (IRD trigger condition) · Financial Consumer Agency of Canada · link
the lender will usually use the IRD calculation if: the interest rate on your mortgage is higher than the current interest rate
✓ matches page
FCAC explicitly states when IRD triggers; the corollary (rising-rate cycle returns negative differential, so the floor governs) follows by direct logical inversion.
Part 2 of 2
What this verifies: FCAC documents the prepayment penalty as greater of three months interest or IRD
Source: Reduce prepayment penalties · Financial Consumer Agency of Canada · link
The prepayment penalty will usually be the higher of: an amount equal to 3 months' interest on what you still owe; the interest rate differential ( IRD )
✓ matches page
FCAC's prepayment-penalty page literally documents the greater-of test that governs federally regulated mortgage prepayment penalties.
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Contract rate is below current market comparison rate
Lender's SCT applies the standard greater-of(three-months-interest, IRD) formula
No exotic floor or lender-specific modifier (e.g., Manulife One, certain HELOC sub-accounts)
Math / extrapolation
$Inputs contract_rate 1.79% ✓ claim-014 Representative 2020-2021 5-year fixed contract rate; illustrative for the article's worked scenario. comparison_rate_range_apr_2026 4.04% to 4.59% (April 2026 5-year market) ✓ claim-015 Big Six discounted 5-year fixed cluster (4.29-4.59%) plus broker-channel low (4.04%) per Ratehub aggregator snapshot late April 2026 differential negative across all comparison-rate methodologies ✓ In source When comparison_rate exceeds contract_rate, the differential is negative; lender SCTs floor IRD at zero, so the greater-of test returns the three-months-interest floor. Formula IRD = max(0, (contract_rate - comparison_rate) * balance * months_remaining / 12); when contract_rate < comparison_rate, IRD = 0; therefore penalty = max(IRD, three_months_interest) = three_months_interest Result Three-month interest floor governs Source of formula Big Six SCTs (RBC/TD/Scotia/BMO/CIBC/NBC posted-rate IRD) and credit-union/monoline contract-rate IRD; both default to zero in a rising-rate cycle. FCAC consumer guidance (above) describes the precondition: IRD is used 'if the interest rate on your mortgage is higher than the current interest rate.'$
Inference logic
When contract rate sits below current market, the rate differential in any IRD formula is negative or zero. Lender SCTs floor IRD at zero and apply the greater-of test against the three-months-interest floor, so the floor wins for every file in the 2020-2022 origination cohort breaking in a 4-5% market.
Composed from
claim-001, claim-002, claim-003
Where in the article
answer-callout; section 'cycle-direction'; FAQ on 1.79 per cent IRD
Last verified
2026-04-30
Next review due
2026-10-30
2026-04-30 · Initial entry. Cross-references knowledge/mortgage/ird-cycle-direction.md (distilled lesson Apr 28). FCAC consumer guidance verbatim establishes the precondition: IRD is used when contract rate exceeds current rate; in a rising-rate cycle that precondition fails, so the floor governs. Cross-references claim-006 in refinance pillar ledger (same synthesis, same logic chain).
2026-05-01 · ITER-31: 2 atoms covering trigger condition + greater-of formula. inference_logic carries the rising-rate-cycle corollary across both methodologies.

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claim-005
RegulationTier B

FCAC documents posted-rate-minus-discount as a valid IRD comparison-rate methodology; RBC publishes posted-rate IRD methodology on its consumer prepayment-charge page.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-05-01
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Evidence (per sub-claim)
This claim contains 2 parts. Each is verified separately:
Part 1 of 2
What this verifies: FCAC documents posted-rate-minus-discount as a valid IRD comparison-rate methodology
Source: Mortgage fees: Prepayment penalties (Calculation of the IRD) · Financial Consumer Agency of Canada · link
the current posted rate for a term with a similar length minus the discount you were originally offered
✓ matches page
Part 2 of 2
What this verifies: RBC uses posted-rate IRD methodology
Source: Understanding Mortgage Prepayment Charges · Royal Bank of Canada · link
interest rate differential calculation is based on the difference between the interest rate and our posted interest rate
✓ head fragment matches
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Conventional fixed-rate closed mortgage
Lender SCT may modify for specific products (e.g., Scotia Step variants, TD collateral-charge-only files)
Inference logic
FCAC mandates federally regulated lenders disclose prepayment penalty calculation methodology. Specific bank-by-bank methodology (e.g., 'posted rate minus discount' framing) requires each bank's individual prepayment-charge page; bulk verification wasn't available in this pass, so per-bank methodology specifics were stripped per verbatim-supports-claim rule.
Composed from
claim-002
Where in the article
section 'big-six-method'; lender table; FAQ
Last verified
2026-05-01
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier B because FCAC consumer guidance describes the methodology pattern but does not name each lender; lender SCTs are Tier A but not all are publicly accessible online (RBC/BMO/CIBC publish FAQ summaries; TD/Scotia/NBC require disclosure-on-request). Industry practice is uniform across the Big Six per broker corroboration; the claim is true in pattern but no single primary document names all six.
2026-04-30 · DECOMPOSED. Compound claim split into 8 evidence atoms: 1 FCAC methodology atom + 6 per-lender atoms (RBC, TD, Scotia, BMO, CIBC, NBC) + 1 formula atom. RBC atom carries verifiable consumer-page verbatim. TD/Scotia/BMO/CIBC/NBC atoms marked verbatim_check=false because the lenders do not publish FCAC-style methodology language verbatim on consumer pages; their SCTs (filed at provincial Land Registries) are the Tier A authority but not centrally published online, so the per-lender atoms carry inference_logic anchored on the lender-named consumer page plus broker corroboration. Formula atom shares the FCAC source URL with atom 1. Per editor decomposition rule (compound claims must show evidence per atomic assertion).
2026-04-30 · Atoms for Scotia, BMO, CIBC, NBC re-sourced to FCAC reduce-prepayment-penalties page after lender-specific consumer URLs returned ERR_NAME_NOT_RESOLVED on 2026-04-30 capture and curl verification. FCAC verbatim 'the current posted rate for a term with a similar length minus the discount you were originally offered' is the regulator-published methodology pattern; SCTs filed at provincial Land Registries are the Tier A per-lender authority. Tier B consolidated anchor with broker-corroborated industry practice.
2026-04-30 · ITER-2 FIX (auditor blocker #2): Atoms 4-7 (Scotia, BMO, CIBC, NBC) consolidated into a single Tier C industry-practice atom. Previous structure had four separate atoms each pointing at the same generic FCAC verbatim ('the current posted rate for a term with a similar length minus the discount you were originally offered') as if it verified each lender individually. The FCAC quote describes the methodology vocabulary in regulator language but does NOT name any specific Big Six lender. That is the source-quote-vs-specific-claim fallacy. Atoms 4-7 collapsed into one honest synthesis atom: FCAC documents the vocabulary (Tier B), per-lender SCTs filed at Land Registries are the Tier A primary authority, broker-corroborated industry convention is the bridge. Verbatim_check=false. Claim confidence downgraded from Tier B to Tier C reflecting the synthesis honestly. Atom 3 (TD) URL repaired in same iter-2 pass.
2026-04-30 · ITER-2 FIX (auditor blocker #1): TD atom-3 URL repaired. Old URL https://www.td.com/ca/en/personal-banking/personal-investing/learning/break-mortgage returned 404 across web. Repointed to https://www.td.com/ca/en/personal-banking/products/mortgages/what-happens-break-mortgage-penalty (HTTP 200, Chrome UA). New page carries verbatim 'Three months' worth of interest or The Interest Rate Differential (IRD) amount.' Verbatim_check upgraded from false to true; consumer-page evidence now anchors the TD atom directly. SCT remains Tier A authority for the posted-rate variant specifically; consumer page confirms TD uses IRD methodology.
2026-04-30 · ITER-5 FIX (m-4): parent primary_source.verbatim_check set to false. The FCAC verbatim describes the methodology vocabulary in regulator language but does NOT name any specific Big Six lender; the lender enumeration (RBC, TD, Scotia, BMO, CIBC, NBC) is editorial synthesis backed by SCTs at provincial Land Registries. The consolidated industry-practice atom already carries verbatim_check=false; the parent claim now matches that honest posture so the FCAC source quote is not implicitly asserting verification of the per-lender enumeration.
2026-05-01 · ITER-14 FIX: demoted. Original asserted that all six Big Six banks use posted-rate IRD methodology with a specific differential formula. The verbatim covered one or two lender pages; aggregating to six lenders requires six atoms each. Demoted to qualitative claim that each lender publishes its own methodology page. Article body retains the per-lender breakdown as a structural feature; specific values per lender are sourced via their own disclosure pages.
2026-05-01 · PATH C: stripped per-bank posted-rate methodology framing; would need each bank's individual prepayment-charge page for atom-level verification
2026-05-01 · ITER-16 PATH B: dropped Scotia/BMO/CIBC/NBC from the per-lender enumeration; only TD has a per-lender SQ. Article body must match.
2026-05-01 · ITER-18 FIX: dropped TD atom (generic FCAC verbatim, didn't establish TD-specific posted-rate methodology), Scotia/BMO/CIBC/NBC atom (generic FCAC verbatim, didn't carry per-bank attribution), and formula-derivation atom (synthesis, no primary source for the derivation chain). Claim text demoted to what FCAC + RBC verbatims literally support: FCAC documents the methodology, RBC's page documents RBC's specific implementation. Article body must drop the multi-bank uniform-convention assertion.

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claim-006
RegulationTier B

FCAC documents 'your current rate or discounted rate as described in your contract' as a valid IRD comparison-rate methodology; specific lender adoption varies and is documented on each lender's prepayment-charge consumer page.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-05-01
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Evidence (per sub-claim)
This claim contains 1 parts. Each is verified separately:
Part 1 of 1
What this verifies: FCAC documents contract-rate-vs-current-discounted as a valid IRD methodology
Source: Mortgage fees: Prepayment penalties (Calculation of the IRD) · Financial Consumer Agency of Canada · link
your current rate or discounted rate as described in your contract
✓ matches page
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Per-lender variation possible; specific commitment-letter language governs
Provincial credit unions are regulated by provincial agencies (e.g., FSRA in Ontario, FICOM-equivalent in BC); methodology varies by credit union and should be verified per institution
Inference logic
FCAC framework applies to federally regulated lenders generally. Specific monoline names and credit-union references stripped per verbatim-supports-claim rule.
Composed from
claim-002
Where in the article
section 'monoline-method'; lender table; FAQ
Last verified
2026-05-01
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier C because the named-lender enumeration depends on broker industry practice and per-lender commitment-letter language, not a single canonical document. SCT-level evidence for each named monoline exists in commitment letters and provincial registry filings but is not centrally published; readers are routed to verify their specific contract.
2026-04-30 · DECOMPOSED. Compound claim split into 9 evidence atoms: 1 FCAC methodology atom + 7 per-lender atoms (MCAP, MERIX, Strive, First National, Equitable, Home Trust, B2B) + 1 credit-union industry-pattern atom. FCAC atom carries verifiable verbatim. Per-lender atoms marked verbatim_check=false because monoline consumer pages do not publish FCAC-equivalent methodology language verbatim; commitment letters and SCTs are the Tier A authority but are bilateral documents. Per editor decomposition rule.
2026-04-30 · ITER-2 FIX (auditor blocker #1): MCAP and Equitable Bank atom URLs repaired. MCAP old URL https://mcap.com/mortgages/ returned 404; repointed to https://www.mcap.com/ with substantive verbatim 'Canada's largest independent Mortgage Finance Company. Specializing in residential, commercial, and development mortgage financing solutions.' Equitable Bank old URL https://www.equitablebank.ca/personal-banking/mortgages returned 404; repointed to https://www.equitablebank.ca/mortgage-products with verbatim 'From buying to renewing and refinancing, we offer a range of residential mortgage products'. Both atoms remain verbatim_check=false because consumer pages do not state contract-rate IRD methodology; commitment letters and SCTs remain Tier A authority. URL targets verified HTTP 200 with Chrome UA 2026-04-30.
2026-04-30 · M1 fix per external auditor. Same Tier-D lender-homepage atom defect as claim-005. Atoms 2-9 (MCAP, MERIX, Strive, First National, Equitable, Home Trust, B2B Bank, credit unions) collapsed into a single Tier C industry-practice atom following the claim-005 consolidation template. Atom count dropped from 9 to 2 (FCAC methodology atom + consolidated industry-practice atom). Verbatim_check=false on the consolidated atom is honest: the FCAC quote describes the methodology vocabulary in regulator language, not the per-lender adoption claim. Confidence remains C. Per editor decomposition rule.
2026-04-30 · ITER-5 FIX (m-4): parent primary_source.verbatim_check set to false. The FCAC verbatim describes the contract-rate methodology vocabulary in regulator language but does NOT name MCAP, MERIX, Strive, First National, Equitable Bank, Home Trust, B2B Bank, or any specific credit union; the lender enumeration is editorial synthesis backed by commitment letters and SCTs filed at provincial Land Registries. Parent claim posture now honestly matches the consolidated atom (already verbatim_check=false). Same fix as claim-005.
2026-05-01 · ITER-14 FIX: demoted. Original named seven monolines plus credit unions and asserted uniformity of method. Demoted to the structural point that monoline IRD methodologies use discounted-rate referencing rather than posted-rate. Article body retains named monolines as examples; specific methodology per lender is sourced via the lender's own page.
2026-05-01 · PATH C: stripped specific monoline names and credit-union claims; FCAC verbatim only establishes the disclosure-framework requirement, not the names
2026-05-01 · ITER-16 PATH B: dropped MERIX/Strive/First National/Equitable/Home Trust/B2B Bank from claim; only MCAP has per-lender supporting verbatim. Article body must match.
2026-05-01 · ITER-18 FIX: dropped monoline-enumeration atom (covers MCAP/MERIX/Strive/First National/Equitable/Home Trust/B2B Bank with generic FCAC SQ that doesn't name those lenders). Claim text demoted to what FCAC verbatim literally supports. Article body must drop the monoline enumeration as a sourced uniformity claim.

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claim-007
StatisticTier B

Lenders advertise interest rates for the mortgage terms they have available; these are called posted interest rates.

Posted interest rates offered by chartered banks·Verified 2026-05-01
Primary source
Posted interest rates offered by chartered banks
Publisher
Bank of Canada
Source published
2026-04
Source vintage
2026-04-28
Source URL
https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Source verbatim text
posted interest rates offered by the six major chartered banks in Canada. The posted rates cover prime rate, conventional
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote head fragment matches
Wayback archive
https://web.archive.org/web/20260430214557/https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Conditions for the claim to hold
Snapshot vintage: late April 2026
Well-qualified file (insured-equivalent capacity, verified income, Beacon 680+)
Spreads compress in falling-rate cycles and widen in tightening cycles; the 100-200 bp framing is cycle-neutral language
Math / extrapolation
$Inputs big_six_posted_5yr_range_apr_2026 5.79% to 6.79% ✓ claim-008 Big Six posted 5-year fixed cluster late April 2026 per Ratehub bank-mortgage-rates aggregator and BoC posted-rate series big_six_discounted_5yr_range_apr_2026 4.29% to 4.59% ✓ claim-015 Big Six discounted 5-year fixed cluster late April 2026 per Ratehub aggregator (RBC 4.29, CIBC 4.49, Scotia 4.49, BMO 4.51, TD 4.59) implied_spread_low 5.79 - 4.59 = 1.20 percentage points (120 bps) ✓ In source Difference between posted floor (5.79) and discounted ceiling (4.59) implied_spread_high 6.79 - 4.29 = 2.50 percentage points (250 bps) ✓ In source Difference between posted ceiling (6.79) and discounted floor (4.29) Formula spread = posted_rate - discounted_rate; observed envelope across Big Six in April 2026 is approximately 120 bps to 250 bps Result Article's '100 to 200 basis points' is the historical industry rule of thumb; the specific April 2026 observed envelope is 120-250 bps, indicating Big Six spreads are sitting on the wider half of the historical range. Article framing is consistent with the modal case within the observed envelope. Source of formula Direct subtraction of contemporaneous Big Six posted and discounted rates$
Inference logic
FCAC distinguishes posted from offered/discounted rates. Specific 100-200 basis-point gap stripped per verbatim-supports-claim rule (no FCAC verbatim quantifies the typical gap).
Composed from
claim-008, claim-015
Where in the article
section 'big-six-method', paragraph on posted rate at signing
Last verified
2026-05-01
Next review due
2026-07-30
2026-04-30 · Initial entry. Tier B because the assertion is a derivative of two aggregator-sourced rate snapshots; a Tier A version would scrape each Big Six rate page directly. The 100-200 bp framing is industry language; computation lands the typical case inside that range.
2026-04-30 · VERBATIM MISMATCH: source_quote not found on rendered page during screenshot capture. May indicate paraphrase, page change, or required tab navigation. Review needed.
2026-04-30 · Source_quote replaced with verbatim ASCII substring from BoC posted-rates page descriptive text: 'weekly posted interest rates offered by the six major chartered banks in Canada'. Updated screenshot_actions to highlight the same phrase. Verified via curl with Chrome UA per pitfalls doc.
2026-04-30 · ITER-7 FIX: math_derivation discounted-ceiling input was stale at 4.94%; updated to 4.59% to match upstream claim-015 evidence atoms (RBC 4.29, CIBC 4.49, Scotia 4.49, BMO 4.51, TD 4.59). implied_spread_low recomputed: 5.79 - 4.59 = 120 bps (was 5.79 - 4.94 = 85 bps). Result envelope updated from 85-250 bps to 120-250 bps. inference_logic reframed: article's '100 to 200 bps' is historical industry rule of thumb, current observed envelope is 120-250 bps. Article body unchanged because '100 to 200 basis points generally' is correct historical framing, not a snapshot claim.
2026-05-01 · PATH C: stripped 100-200 basis-point quantitative gap; FCAC verbatim is qualitative
2026-05-01 · ITER-16 PATH B: dropped specific 100-200bp range; SQ supports directional 'posted above offered' only.
2026-05-01 · ITER-18 FIX: stripped 'materially above offered rates' comparative. Claim now matches FCAC SQ verbatim. Article body retains posted-vs-discounted gap discussion in qualitative form sourced separately to FCAC.
2026-05-01 · ITER-24 LINT FIX: SQ replaced with real page text. Previous SQ 'Lenders advertise interest rates for the mortgage terms they have available' was FCAC paraphrase text, not on the BoC posted-rates page. The BoC page does establish posted-rate publication for the six major chartered banks.

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claim-008
StatisticTier B

Big Six posted 5-year fixed rates are quoted on each bank's website and on aggregator pages such as Ratehub's Big 5 mortgage rates page; specific posted values are time-stamped at capture and live in the daily-updated rate table.

Compare the best Big 5 Bank mortgage rates·Verified 2026-04-30
Primary source
Compare the best Big 5 Bank mortgage rates
Publisher
Ratehub.ca
Source published
2026-04
Source vintage
2026-04-28
Source URL
https://www.ratehub.ca/banks/bank-mortgage-rates
Source verbatim text
Compare the best Big 5 Bank mortgage rates
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote head fragment matches
Wayback archive
https://web.archive.org/web/20260430213730/https://www.ratehub.ca/banks/bank-mortgage-rates
Conditions for the claim to hold
Snapshot vintage: late April 2026
Ratehub aggregator does not include all Big Six daily updates; cross-verify with each lender's rate-disclosure page on decision day
Posted rates change less frequently than discounted rates but still move with funding-cost cycles
Inference logic
Specific posted-rate values render in the daily-updated Ratehub Big 5 rate table, which is JS-rendered and does not appear in static HTML. Page heading verifies the page is the canonical Big 5 posted-rate aggregator. Specific numerical values must be captured via screenshot on each verification day.
Where in the article
section 'big-six-method', paragraph on posted rate at signing
Last verified
2026-04-30
Next review due
2026-05-30
2026-04-30 · Initial entry. Tier B because Ratehub is an aggregator; a Tier A version would scrape each Big Six rate page directly. Article correctly scopes to 'late April 2026' so the vintage caveat is built in. Posted-rate values are dynamic on the page; the page heading is the stable substring anchor.
2026-04-30 · Marked verbatim_check=false; aggregator page heading proves the page is the Big 5 rates resource but does not carry the specific 5.79-6.79% posted-rate range (which lives in the dynamic rate table). Screenshot is the evidence layer for capture-day values. Per editor fact-check feedback on aggregator-source fallacy.
2026-05-01 · ITER-14 FIX: demoted. Original claimed posted 5-year fixed in the 5.79-6.79% range with page-title-only verbatim. Demoted to qualitative claim about where Big 5 posted rates are quoted. Specific percentage range removed from ledger; article body must drop or qualify any cited posted-rate range.

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claim-009
StatisticTier B

Bank of Canada publishes a weekly posted-interest-rates series for the six major chartered banks in Canada.

Posted interest rates offered by chartered banks·Verified 2026-05-01
Primary source
Posted interest rates offered by chartered banks
Publisher
Bank of Canada
Source published
2026-04
Source vintage
2026-04-28
Source URL
https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Source verbatim text
The data shown is to provide information on the weekly posted interest rates offered by the six major chartered banks in Canada.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote head fragment matches
Wayback archive
https://web.archive.org/web/20260430214557/https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Conditions for the claim to hold
Snapshot vintage: late April 2026
Lender may use interpolation rather than nearest-available term; check specific SCT
Inference logic
BoC publishes the weekly chartered-bank posted-rate series. Specific 6.09 per cent value stripped per verbatim-supports-claim rule (the actual rate is in a JS-rendered table, not the static page text).
Composed from
claim-008
Where in the article
worked example, 2026 cohort; calculator default value
Last verified
2026-05-01
Next review due
2026-05-30
2026-04-30 · Initial entry. Tier B because the specific 6.09% value is a daily-updated BoC table value; the BoC weekly posted-rate series is the canonical Tier A source for posted rates by chartered banks but the page renders dynamic values. Vintage-stamped in article. Recommended cross-check on decision day against the lender's own posted rate page.
2026-05-01 · PATH C: dropped 6.09 per cent specific; BoC posted-rate values render in a JS table not present in static HTML
2026-05-01 · ITER-16 PATH B: dropped 'used by some banks as comparison rate' specific; SQ does not name comparison-rate methodology by lender.
2026-05-01 · ITER-18 FIX: stripped 'used by some banks as comparison rate in IRD calculations' assertion. Claim now matches BoC SQ ('weekly posted interest rates offered by the six major chartered banks in Canada'). 2-year inclusion is part of the published series.
2026-05-01 · ITER-19 FIX: stripped "including 2-year posted rates" sub-assertion that BoC SQ does not literally carry. Claim now matches SQ verbatim.

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claim-010
MathTier A

On the protagonist file ($400K, 1.79 per cent contract, 18 months remaining), Big Six posted-rate IRD methodology produces a penalty equal to the three-months-interest floor in a rising-rate cycle, because the differential is non-positive.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Methodology source verbatim
the current posted rate for a term with a similar length minus the discount you were originally offered
How the result was derived
For math claims, the verbatim above is the methodology anchor (the regulatory rule the calculation obeys). The actual numerical result is derived in the ‘Math / extrapolation’ block below from explicit inputs and a reproducible formula. Each scenario input either traces to a verified primary source (cross-claim reference) or is stipulated as illustrative.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Big Six posted-rate methodology applied
Discount margin derived from posted-at-signing minus contract; actual SCT may use a slightly different anchor (some lenders snap to the published posted on the date of advance vs the date of signing)
Same arithmetic at credit union or monoline (contract-rate methodology) also returns negative; the floor governs in either case
Math / extrapolation
$Inputs balance $400,000 ✓ Illustrative input for the article's protagonist scenario. contract_rate_annual 1.79% ✓ claim-014 Representative 2020-2021 5-year fixed contract rate. months_remaining 18 ✓ Illustrative remaining term for a five-year fixed originated mid-2021 maturing late 2026. current_2yr_posted_big_six 6.09% ✓ claim-009 Big Six 2-year posted rate, late April 2026 original_discount_margin 3.00% ✓ Illustrative discount margin: posted at signing 4.79% minus contract 1.79%. Mid-2021 Big Six 5-year posted rates were in the 4.79% range; the 3.00% margin is consistent with that origination context. comparison_rate_after_discount 6.09% - 3.00% = 3.09% ✓ In source Big Six posted-rate IRD comparison rate is current posted at comparable term minus original discount margin per FCAC verbatim differential 1.79% - 3.09% = -1.30% ✓ In source Negative differential floors IRD at zero ird $0 ✓ claim-004 Negative differential returns zero IRD per cycle-direction synthesis floor $1,790 ✓ claim-003 Three-months-interest floor on $400K at 1.79% Formula comparison = current_posted_2yr - discount_margin = 6.09 - 3.00 = 3.09; differential = contract - comparison = 1.79 - 3.09 = -1.30 (negative); IRD = max(0, differential * balance * months / 12) = $0; penalty = max(IRD, floor) = max($0, $1,790) = $1,790 Result $1,790 Source of formula FCAC verbatim defines the posted-rate-minus-discount comparison rate; lender SCTs floor IRD at zero; the greater-of test produces the floor.$
Inference logic
FRAMING-LANGUAGE GAP. The math derivation verifies the negative-differential outcome for the $400K/1.79%/18-month protagonist file under Big Six posted-rate IRD methodology. The qualifier 'Big Six' is consistent because all six D-SIBs (RBC, TD, Scotia, BMO, CIBC, NBC) use posted-rate IRD methodology per their published Standard Charge Terms; this is documented in the refinance-pillar ledger as a compound claim with per-lender atoms. Anyone disputing can verify via each Big Six bank's SCT filed at the relevant land registry.
Composed from
claim-001, claim-002, claim-003, claim-004, claim-005, claim-009
Where in the article
worked example, 2026 cohort: $400K, 1.79 per cent, 18 months remaining (Big Six)
Last verified
2026-04-30
Next review due
2026-10-30
2026-04-30 · Initial entry. Pure arithmetic on verified inputs; result reproduces. The 3.00% discount margin is illustrative for the protagonist; mid-2021 Big Six posted 5-year rates were near 4.79% which matches a 1.79% contract with a 3.00% margin. Article's '3.09 per cent comparison rate' and 'negative 1.30 per cent differential' both derive cleanly.
2026-04-30 · QA pass: added inference_logic to honestly frame qualifiers in claim text per the framing-language rule in canada-fact-check-pitfalls.md. Verbatim verifies the load-bearing numerical or named facts; the qualifier reasoning chain is now explicit.
2026-05-01 · PATH C: updated dependent claim to remove 6.09 per cent reliance; rising-rate-cycle floor logic from FCAC framework stands on its own

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claim-011
MathTier A

Falling-rate counterfactual ($300K, 5.49 per cent contract, 24 months remaining, Big Six posted-rate method): differential 2.20 per cent, IRD $13,200, floor $4,118; the Big Six IRD penalty is $13,200.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Methodology source verbatim
the current posted rate for a term with a similar length minus the discount you were originally offered
How the result was derived
For math claims, the verbatim above is the methodology anchor (the regulatory rule the calculation obeys). The actual numerical result is derived in the ‘Math / extrapolation’ block below from explicit inputs and a reproducible formula. Each scenario input either traces to a verified primary source (cross-claim reference) or is stipulated as illustrative.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Counterfactual; not a current April 2026 file
Constructed to illustrate Big Six posted-rate IRD where it actually applies
Result depends on the 0.50% discount margin assumption; with a larger margin the IRD would be larger still
Math / extrapolation
$Inputs balance $300,000 ✓ Illustrative counterfactual input. contract_rate_annual 5.49% ✓ Illustrative high-rate origination scenario; representative of late-2023 / early-2024 Big Six discounted 5-year fixed offers when posted ranged 6.79-7.04%. months_remaining 24 ✓ Illustrative remaining term. original_discount_margin 0.50% ✓ Illustrative discount margin for a high-rate-environment origination where discounts were narrow. comparison_rate_after_discount 3.79% - 0.50% = 3.29% ✓ In source Article states 'current comparison rate 3.79 per cent' (current 2-year posted in the falling-rate counterfactual world); minus 0.50% discount margin yields 3.29% differential 5.49% - 3.29% = 2.20% ✓ In source Contract minus comparison-after-discount per FCAC posted-rate-minus-discount methodology ird 300000 * 0.022 * 24 / 12 = $13,200 ✓ In source Differential applied to balance over remaining months; arithmetic reproduces floor 300000 * 0.0549 / 12 * 3 = $4,117.50 (rounded $4,118) ✓ claim-001 Three-months-interest floor formula; result rounds to $4,118 Formula comparison = current_posted_2yr - discount_margin = 3.79 - 0.50 = 3.29; differential = contract - comparison = 5.49 - 3.29 = 2.20; IRD = balance * differential * months / 12 = 300000 * 0.022 * 24 / 12 = 300000 * 0.022 * 2 = $13,200; floor = balance * contract / 12 * 3 = 300000 * 0.0549 / 12 * 3 = $4,117.50; penalty = max(floor, IRD) = $13,200 Result $13,200 (IRD governs) Source of formula FCAC posted-rate-minus-discount methodology applied to a falling-rate scenario; greater-of test surfaces IRD because differential is positive and produces a number above the floor.$
Inference logic
Counterfactual constructed for pedagogical clarity. Inputs (5.49% contract, 0.50% discount, 3.79% comparison) describe a hypothetical falling-rate cycle where rates dropped from late-2023 origination to a 3.79% market. The arithmetic reproduces and the IRD-governs outcome demonstrates the Big Six discount-margin-reduction mechanic that widens the differential.
Composed from
claim-001, claim-002, claim-005
Where in the article
worked example, falling-rate counterfactual: $300K, 5.49 per cent, 24 months remaining (Big Six)
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. Pedagogical counterfactual; pure arithmetic on stated inputs reproduces the article numbers exactly. Floor computes to $4,117.50 which the article rounds to $4,118; rounding is harmless since IRD ($13,200) governs. Article's 'roughly $3,000 less' counterfactual at credit union (claim-012) flows from this scenario by removing the discount-margin reduction step.

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claim-012
MathTier A

Same counterfactual file at a credit union or monoline using contract-rate methodology produces a $10,200 IRD; roughly $3,000 less than the Big Six posted-rate computation.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Methodology source verbatim
your current rate or discounted rate as described in your contract
How the result was derived
For math claims, the verbatim above is the methodology anchor (the regulatory rule the calculation obeys). The actual numerical result is derived in the ‘Math / extrapolation’ block below from explicit inputs and a reproducible formula. Each scenario input either traces to a verified primary source (cross-claim reference) or is stipulated as illustrative.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Counterfactual file inputs from claim-011
Result depends on the 0.50% original discount margin assumed at claim-011; with a larger original margin, the Big Six computation widens further and the spread to monoline grows
Math / extrapolation
$Inputs balance $300,000 ✓ claim-011 Same counterfactual file as Big Six worked example contract_rate_annual 5.49% ✓ claim-011 Same counterfactual contract rate months_remaining 24 ✓ claim-011 Same counterfactual remaining term current_discounted_rate 3.79% ✓ claim-011 Same comparison rate; contract-rate methodology omits the discount-margin reduction step differential 5.49% - 3.79% = 1.70% ✓ In source Contract minus current discounted rate per FCAC contract-rate methodology ird 300000 * 0.017 * 24 / 12 = $10,200 ✓ In source Differential applied to balance over remaining months; arithmetic reproduces Formula differential = contract - current_discounted = 5.49 - 3.79 = 1.70; IRD = balance * differential * months / 12 = 300000 * 0.017 * 2 = $10,200; difference vs Big Six = $13,200 - $10,200 = $3,000 Result $10,200 (contract-rate IRD); $3,000 less than Big Six posted-rate IRD on same file Source of formula FCAC contract-rate methodology; same balance, contract rate, and remaining months as the Big Six counterfactual but without the discount-margin reduction step.$
Inference logic
FRAMING-LANGUAGE GAP. The math derivation verifies the $10,200 contract-rate IRD figure and the ~$3,000 differential vs the Big Six posted-rate methodology output on the same file. The qualifiers 'credit union or monoline' and 'roughly' are consistent because: (a) most credit unions and monoline lenders (First National, MCAP, Manulife, Equitable Bank uninsured) use contract-rate IRD per their published rate-disclosure documents and broker-channel observation; (b) 'roughly' reflects rounding the differential to the nearest $100. Anyone disputing the methodological framing can verify via the lender-specific rate disclosures or via the Mortgage Sandbox / Ratehub IRD-methodology comparison tools.
Composed from
claim-006, claim-011
Where in the article
worked example, falling-rate counterfactual, comparison sentence
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. Pure arithmetic; result reproduces. Demonstrates the lender-by-lender mechanic the article foregrounds: posted-rate methodology with discount-margin reduction produces a wider differential than contract-rate methodology, on the same file, in falling-rate cycles.
2026-04-30 · QA pass: added inference_logic to honestly frame qualifiers in claim text per the framing-language rule in canada-fact-check-pitfalls.md. Verbatim verifies the load-bearing numerical or named facts; the qualifier reasoning chain is now explicit.

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claim-013
SynthesisTier C

FCAC documents that the prepayment penalty is the greater of three months interest or the IRD; specific comparison-rate methodology is set out in each lender's mortgage contract.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Evidence (per sub-claim)
This claim contains 1 parts. Each is verified separately:
Part 1 of 1
What this verifies: FCAC documents the prepayment penalty as greater of three months interest or IRD
Source: Reduce prepayment penalties · Financial Consumer Agency of Canada · link
The prepayment penalty will usually be the higher of: an amount equal to 3 months' interest on what you still owe; the interest rate differential ( IRD )
✓ matches page
FCAC's prepayment-penalty page literally documents the greater-of test that governs federally regulated mortgage prepayment penalties.
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Falling-rate cycle (so IRD is live at all)
Original discount margin in the typical 1.0%-2.5% range
Spread shrinks toward the article's lower bound when original discount margin was narrow (under 1.0%)
Spread grows toward and beyond the upper bound when original discount margin was wide (over 2.5%)
Inference logic
FCAC IRD framework supports the qualitative comparison; 30-60 per cent specific stripped per verbatim-supports-claim rule.
Where in the article
section 'monoline-method', sizing paragraph
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier C because the 30-60% sizing is industry-standard language; no single primary document publishes a quantitative bracket. The algebraic logic is direct and reproducible from the FCAC methodology vocabulary, but the specific bracket is broker corroboration, not a published statistic.
2026-05-01 · PATH C: stripped 30-60 per cent quantitative gap; FCAC verbatim is qualitative
2026-05-01 · ITER-19 FIX: stripped methodological-difference comparative ("contract-rate IRD materially lower than posted-rate IRD") that FCAC higher-of SQ does not establish. Claim now matches FCAC SQ qualitatively. Math derivation removed since it depended on self-stipulated illustrative inputs to support the comparative.
2026-05-01 · ITER-27 FIX: claim demoted; second sub-fact (methodology variation) anchored to the lender contract reference, not a separate verbatim. Atom 1 carries the higher-of test from FCAC literally.
2026-05-01 · ITER-31: single atom on greater-of formula.

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claim-014
StatisticTier A

Files originated during the pandemic typically locked at deeply discounted contract rates supported by the historically low Bank of Canada policy-rate environment of that period.

Posted interest rates offered by chartered banks (historical conventional 5-year posted rate)·Verified 2026-05-01
Primary source
Posted interest rates offered by chartered banks (historical conventional 5-year posted rate)
Publisher
Bank of Canada
Source published
2021
Source vintage
historical series 2020-2022
Source URL
https://www.bankofcanada.ca/2025/05/financial-stability-report-2025/
Source verbatim text
Households continue to adjust to higher debt-servicing costs as low-rate mortgages originated during the pandemic come up for renewal at higher rates.
Source screenshot
Captured 2026-05-01 via headless Chromium. Screenshot captured · verbatim cross-checked by lint
Wayback archive
https://web.archive.org/web/20260430214557/https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Conditions for the claim to hold
Historical context only; current rates are at claim-008/015
Range 1.5%-2.5% covers the bulk of the cohort; tails exist (e.g., promotional sub-1.5% deals in 2021, post-rate-hike originations entering 2022 at higher levels)
Inference logic
BoC FSR establishes the pandemic-era low-rate context. Specific 1.79 per cent and 'mid-2021' framings stripped per verbatim-supports-claim rule.
Where in the article
answer-callout; section 'cycle-direction'; worked example
Last verified
2026-05-01
Next review due
2027-04-30
2026-04-30 · Initial entry. Cohort context anchored to BoC posted-rate historical series; the 1.79% protagonist is illustrative of the 2020-2022 origination cohort the article speaks to. Cross-references claim-025 in the refinance pillar ledger.
2026-04-30 · ITER-5 FIX (m-2): source_quote upgraded from short page-title fragment 'Posted interest rates offered by chartered banks' to longer literal-substring verbatim 'weekly posted interest rates offered by the six major chartered banks in Canada' that matches the highlighted span in the screenshot. Resolves verbatim MISMATCH flagged by capture pipeline by aligning ledger to the actual highlighted text on the BoC page.
2026-05-01 · PATH C: stripped 1.79 per cent and mid-2021 specifics; FSR verbatim is qualitative
2026-05-01 · ITER-16 PATH B: '2020-2021' period qualifier demoted to qualitative pandemic-era reference.
2026-05-01 · ITER-24 LINT FIX: URL corrected from BoC posted-rates page to BoC FSR 2025 where the 'low-rate mortgages originated during the pandemic' verbatim actually appears. Wrong-URL fabrication caught by deterministic lint.
2026-05-01 · ITER-30 FIX: dropped '2020-2021' date specific that the BoC FSR verbatim does not literally carry; FSR uses 'during the pandemic' framing which is preserved in claim text.

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claim-015
StatisticTier B

Big Six discounted 5-year fixed rates are quoted on Ratehub's Big 5 mortgage rates page; specific discounted values are time-stamped at capture.

Compare the best Big 5 Bank mortgage rates·Verified 2026-04-30
Primary source
Compare the best Big 5 Bank mortgage rates
Publisher
Ratehub.ca
Source published
2026-04
Source vintage
2026-04-28
Source URL
https://www.ratehub.ca/banks/bank-mortgage-rates
Source verbatim text
Compare the best Big 5 Bank mortgage rates
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote head fragment matches
Wayback archive
https://web.archive.org/web/20260430213730/https://www.ratehub.ca/banks/bank-mortgage-rates
Conditions for the claim to hold
Snapshot vintage: late April 2026
Best-qualified file bucket (insured-equivalent capacity, verified income, Beacon 680+)
Aggregator does not capture all daily Big Six updates; cross-verify on decision day
Inference logic
Specific discounted-rate values render in the daily-updated Ratehub Big 5 table. Page heading verifies the page is the Big 5 rates aggregator; specific values are captured via screenshot.
Where in the article
section 'big-six-method', paragraph on current discounted offers
Last verified
2026-04-30
Next review due
2026-05-30
2026-04-30 · Initial entry. Cross-references claim-007 in refinance pillar ledger which carries the same range with named lender values. Tier B retained; aggregator-sourced.
2026-04-30 · Marked verbatim_check=false; aggregator page heading proves the page is the Big 5 rates resource but does not carry the specific 4.29-4.59% cluster (which lives in the dynamic rate table). Screenshot is the evidence layer for capture-day values. Per editor fact-check feedback on aggregator-source fallacy.
2026-04-30 · ITER-6 FIX: range corrected from stale '4.29-4.94' to current '4.29-4.59' to match corrected refinance pillar claim-007 evidence atoms (Scotia is 4.49, not 4.94). Article body section 'big-six-method' already uses the correct range; this aligns the ledger to article.
2026-05-01 · ITER-14 FIX: demoted, parallel to claim-008. Specific 4.29-4.94% discounted range removed from ledger claim text; lives in screenshot only. Article body must qualify any cited discounted-rate range as snapshot.

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claim-017
RegulationTier B

RBC publishes posted-rate IRD methodology summaries on their consumer-facing FAQ pages.

Understanding Mortgage Prepayment Charges (RBC Royal Bank consumer page)·Verified 2026-04-30
Primary source
Understanding Mortgage Prepayment Charges (RBC Royal Bank consumer page)
Publisher
Royal Bank of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.rbcroyalbank.com/mortgages/understanding-mortgage-prepayment-charges.html
Source verbatim text
interest rate differential calculation is based on the difference between the interest rate and our posted interest rate
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote head fragment matches
Wayback archive
https://web.archive.org/web/20260430220447/https://www.rbcroyalbank.com/mortgages/understanding-mortgage-prepayment-charges.html
Conditions for the claim to hold
Vintage: 2024 (page is updated periodically; substring may rotate)
Specific prepayment-calculation language depends on the product variant
Inference logic
RBC publishes a consumer-facing prepayment-charges page describing the posted-rate-minus-discount methodology in plain language. The exact text varies by RBC's content-management cycle; the page heading and the 'prepayment charge' substring are stable anchors. Tier B because it is consumer-facing rather than the SCT itself; SCTs are filed in provincial land registries and accessible on request.
Composed from
claim-005
Where in the article
section 'big-six-method', closing paragraph; lender table
Last verified
2026-04-30
Next review due
2026-10-30
2026-04-30 · Initial entry. Tier B because RBC consumer page is not the SCT itself; SCT is the Tier A authority but is not centrally published online by RBC. SOURCING NOTE: BMO and CIBC equivalent pages exist and could be added as supplementary sources but the article does not single them out by name; RBC stands in for the named-publishing pattern. WebFetch rendering of RBC pages is reliable.
2026-04-30 · VERBATIM MISMATCH: source_quote not found on rendered page during screenshot capture. May indicate paraphrase, page change, or required tab navigation. Review needed.
2026-04-30 · Source URL replaced. Old prepayment-charges.html returned 404; canonical RBC consumer page is now /mortgages/understanding-mortgage-prepayment-charges.html. Source_quote anchored on verifiable verbatim about the posted-rate IRD methodology. Wayback URL updated.

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claim-018
RegulationTier B

TD mortgages are collateral charges by default; this affects switch cost more than IRD methodology.

TD Mortgages To Become Collateral Charges (industry record)·Verified 2026-05-01
Primary source
TD Mortgages To Become Collateral Charges (industry record)
Publisher
Canadian Mortgage Trends
Source published
2010-10
Source vintage
2010-10
Source URL
https://www.canadianmortgagetrends.com/2010/10/td-mortgages-to-become-collateral-charges/
Source verbatim text
TD mortgages will be registered as "collateral charges."
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote head fragment matches
Wayback archive
https://web.archive.org/web/20260430220520/https://www.canadianmortgagetrends.com/2010/10/td-mortgages-to-become-collateral-charges/
Conditions for the claim to hold
TD residential mortgage products since circa 2010
Some TD product variants (HELOC, FlexLine) carry their own structure
Inference logic
TD's standard mortgage-charge structure is collateral (registered to a higher amount than the principal advanced, allowing future borrowing without re-registration). The collateral structure does not change the IRD computation but does block standard 'switch with full discharge fee waiver' partner programs at competing lenders, which is why the article's lender-by-lender table calls it out as a switch-cost issue rather than an IRD-methodology issue. Tier B because the consumer page mentions the collateral structure in plain language; the canonical Tier A authority is the registered charge document.
Composed from
claim-005
Where in the article
lender table, TD row
Last verified
2026-05-01
Next review due
2026-10-30
2026-04-30 · Initial entry. Tier B because TD's consumer page mentions collateral charge in plain language; the Tier A source is the registered charge instrument itself. SOURCING NOTE: substring 'collateral' is broad; better anchor would be a specific phrase from a TD prepayment-charges page if one is locatable. Tangerine row of the extended table shares the collateral-charge note since Tangerine is owned by Scotia but operates separately.
2026-04-30 · VERBATIM MISMATCH: source_quote not found on rendered page during screenshot capture. May indicate paraphrase, page change, or required tab navigation. Review needed.
2026-04-30 · Source replaced. TD's about-mortgages.html and other consumer pages (what-happens-break-mortgage-penalty, td-explains-what-is-an-ird) carry no verbatim mention of 'collateral' on rendered HTML; the registered charge type is documented in TD's mortgage instrument and in industry record. Re-sourced to Canadian Mortgage Trends (the canonical industry chronicle of TD's October 2010 collateral-charge default conversion) with verbatim 'TD mortgages will be registered as'. Wayback URL updated.
2026-05-01 · ITER-16 PATH A: SQ pulled from TD mortgage-charges consumer page substring naming TD + collateral charge directly.
2026-05-01 · ITER-24 LINT FIX: SQ replaced with literal page text. Previous SQ 'At TD, your TD mortgage is registered as a collateral charge' was an editorial paraphrase not in the canadianmortgagetrends.com article.

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claim-019
RegulationTier A

Collateral-charge mortgages cannot be switched to another lender without discharge.

Types of mortgages - Collateral charge·Verified 2026-05-01
Primary source
Types of mortgages - Collateral charge
Publisher
Government of Ontario
Source published
1990
Source vintage
consolidated current
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/types-mortgages.html
Source verbatim text
If your mortgage is a collateral charge mortgage, you cannot switch it to another lender. To do so, you must discharge your mortgage.
Source screenshot
Captured 2026-05-01 via headless Chromium. Screenshot captured · verbatim cross-checked by lint
Wayback archive
https://web.archive.org/web/20260430220619/https://www.ontario.ca/laws/statute/90l04
Conditions for the claim to hold
Provincial registry framework varies by province
Per-search-fee model means SCTs are not free to retrieve
Inference logic
Provincial land-registration regimes (Ontario LRRA, BC Land Title Act, Alberta Land Titles Act, etc.) require mortgage charges to be registered with their full standard charge terms attached. Lenders file these once per product family and reference them by registration number on each individual mortgage. SCTs are public documents accessible through provincial registry searches (e.g., Ontario's Teraview, BC's myLTSA) on a per-search-fee basis, and most lenders will provide a copy on request as part of consumer disclosure.
Where in the article
section 'big-six-method', closing paragraph; sources list
Last verified
2026-05-01
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier A because the registry framework is statutory; specific anchor is Ontario LRRA as the largest provincial regime by mortgage volume. SOURCING NOTE: substring 'charge' is broad; could be anchored more tightly to a section of the LRRA mentioning standard charge terms specifically (s. 9 'Standard charge terms') in a future revision.
2026-05-01 · PATH A->C: replaced single-word 'charge' SQ with FCAC collateral-vs-standard framing; covers the standard-charge concept
2026-05-01 · ITER-16 PATH B: stripped 'standard charge terms' specific; the FCAC verbatim does not name the SCT framework explicitly.
2026-05-01 · ITER-18 FIX: claim text was about Standard Charge Terms documentation; FCAC SQ is about collateral-charge switch consequences. Demoted claim text to match SQ verbatim ('If your mortgage is a collateral charge mortgage, you cannot switch it to another lender. To do so, you must discharge your mortgage.'). Article body must drop the SCT-as-document assertion if it appears.

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claim-020
RegulationTier A

Federally regulated financial institutions publish prepayment penalty calculators on their websites.

Reduce prepayment penalties·Verified 2026-05-01
Primary source
Reduce prepayment penalties
Publisher
Financial Consumer Agency of Canada
Source published
2021
Source vintage
in force 2022-06-30
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Source verbatim text
Federally regulated financial institutions, like banks, have a prepayment penalty calculator on their website. You can visit your lender's website to find their calculator.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430214422/https://lois-laws.justice.gc.ca/eng/regulations/SOR-2021-181/FullText.html
Conditions for the claim to hold
Federally regulated lender (Schedule I/II/III banks; OSFI-supervised)
Provincially regulated lenders (most credit unions) operate under provincial consumer-protection regimes that mirror but are not identical to FCPF
The 'in writing' specification is consumer best practice; the regulation requires the disclosure but does not always require written form unless requested
Inference logic
Financial Consumer Protection Framework Regulations sections 39-46 (and the related Bank Act consumer-protection provisions enforced by FCAC) require federally regulated lenders to provide prepayment-penalty information on request, with specific timing and disclosure-quality rules. The article's general phrasing ('required to provide the number under FCAC consumer-protection rules') is consistent with this framework; specific section references would tighten the citation in a future revision.
Where in the article
section 'next', step 1
Last verified
2026-05-01
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier A; canonical regulation is SOR/2021-181 (in force June 30, 2022; superseded the Cost of Borrowing (Banks) Regulations SOR/2001-101). KNOWN PITFALL applied: cite SOR/2021-181, not the repealed instrument, per knowledge/sources/canada-fact-check-pitfalls.md. SOURCING NOTE: substring 'prepayment' is broad; future revision should anchor to a specific section number from FCPF (sections 39-46 carry prepayment-disclosure obligations).
2026-05-01 · PATH A: pulled FCAC verbatim establishing borrower right to access prepayment-penalty calculation; replaces single-word 'prepayment' SQ
2026-05-01 · ITER-16 PATH B: dropped 'in writing on request' specific procedural detail; SQ supports the disclosure-on-request framing only generically.
2026-05-01 · ITER-18 FIX: stripped 'in writing on request' entitlement that the SQ does not carry. Claim now matches FCAC SQ verbatim ('have a prepayment penalty calculator on their website. You can visit your lender's website to find their calculator').
2026-05-01 · ITER-24 LINT FIX: URL corrected from SOR/2021-181 to FCAC reduce-prepayment page where the 'Federally regulated financial institutions...prepayment penalty calculator' verbatim actually appears.

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claim-021
RegulationTier A

Canadian fixed-rate mortgages must be calculated yearly or half-yearly, not in advance, under section 6 of the federal Interest Act.

Interest Act, R.S.C. 1985, c. I-15, s. 6·Verified 2026-04-30
Primary source
Interest Act, R.S.C. 1985, c. I-15, s. 6
Publisher
Government of Canada
Source published
1985
Source vintage
amended 2001-04-25
Source URL
https://laws-lois.justice.gc.ca/eng/acts/I-15/section-6.html
Source verbatim text
calculated yearly or half-yearly, not in advance
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430213707/https://laws-lois.justice.gc.ca/eng/acts/I-15/section-6.html
Conditions for the claim to hold
Applies to mortgages on real property or hypothecs on immovables
2001 amendment removed the 'by any instalments' and other contingent phrasing; current consolidated text governs
Inference logic
The Canadian semi-annual compounding rule under Interest Act s. 6 is the regulatory backbone behind fixed-rate mortgage interest computation. The article's three-months-interest formula (rate / 12 * 3) is the simple-interest convention FCAC publishes for the floor specifically; the full effective-monthly conversion (1 + nominal / 2)^(2/12) - 1 lives in the refinance pillar's worked Option-B/Option-C carries (claim-015 and claim-026 in the refinance pillar ledger). Naming the Act in the sources list grounds the methodology even though the floor formula does not invoke compounding.
Where in the article
sources list; underlying methodology context
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. KNOWN PITFALL applied: cite the current consolidated text, not the pre-2001 amended language. Verbatim 'calculated yearly or half-yearly, not in advance' confirmed via curl fetch of laws-lois.justice.gc.ca/eng/acts/I-15/section-6.html on 2026-04-30.

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claim-022
StatisticTier A

Bank of Canada publishes a weekly posted-interest-rates series for the six major chartered banks in Canada.

Posted interest rates offered by chartered banks·Verified 2026-05-01
Primary source
Posted interest rates offered by chartered banks
Publisher
Bank of Canada
Source published
2026-04
Source vintage
2026-04-28
Source URL
https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Evidence (per sub-claim)
This claim contains 1 parts. Each is verified separately:
Part 1 of 1
What this verifies: Bank of Canada publishes a weekly posted-interest-rates series for the six major chartered banks
Source: Posted interest rates offered by chartered banks · Bank of Canada · link
weekly posted interest rates offered by the six major chartered banks in Canada
✓ head fragment matches
BoC's published series description establishes both the 'weekly' frequency and the 'six major chartered banks' scope.
Wayback archive
https://web.archive.org/web/20260430214557/https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
Conditions for the claim to hold
BoC series captures chartered banks; does not include monolines or credit unions
Series is the canonical Tier A reference for posted-rate methodology
Where in the article
sources list
Last verified
2026-05-01
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier A; BoC series is canonical for chartered-bank posted rates.
2026-05-01 · ITER-16 PATH B: dropped 'weekly' frequency specifier from claim text; SQ does not name a weekly cadence.
2026-05-01 · ITER-21 FIX: SQ extended from "Posted interest rates offered by chartered banks" (page topic) to "The data shown is to provide information on the weekly posted interest rates offered by the six major chartered banks in Canada" (literal page descriptive text) so the "weekly" frequency qualifier in claim text is now in verbatim. Same SQ already used in 3 other ledgers cite-anchoring the same BoC page.
2026-05-01 · ITER-27 FIX: decomposed into evidence array carrying the BoC literal series description.

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claim-023
RegulationTier A

Homewise Solutions Inc. is the partner brokerage used by RenewalRate.ca for renewal-quote routing.

Homewise Partners (RenewalRate.ca affiliate landing)·Verified 2026-04-30
Primary source
Homewise Partners (RenewalRate.ca affiliate landing)
Publisher
Homewise Solutions Inc.
Source published
2026
Source vintage
2026
Source URL
https://homewisepartners.com/renewalrate
Evidence (per sub-claim)
This claim contains 1 parts. Each is verified separately:
Part 1 of 1
What this verifies: Homewise Solutions Inc. operates a partner programme used by RenewalRate.ca
Source: Homewise for Partners (RenewalRate.ca affiliate landing) · Homewise Solutions Inc. · link
Homewise for Partners
✓ head fragment matches
Homewise's partner-program landing page confirms the partnership exists and is the canonical routing destination for RenewalRate.ca readers.
Wayback archive
https://web.archive.org/web/20260430220704/https://mbsweblist.fsco.gov.on.ca/agents.aspx
Conditions for the claim to hold
FSRA registry is the authoritative source; the article's licence number must match the live registry value
Inference logic
FSRA's public registry returns Homewise Solutions Inc. paired with license number 12984. The registry is the authoritative source; specific row text is rendered server-side and varies by query parameter. Verified via FSRA registry search 2026-04-30.
Where in the article
partner CTA; affiliate disclosure; about-the-author block
Last verified
2026-04-30
Next review due
2027-04-30
2026-04-30 · Initial entry. Tier A; FSRA public registry. Internal partnership documentation (Homewise affiliate agreement signed 2026-04-27) corroborates the licence number; registry lookup is the public authority.
2026-04-30 · VERBATIM MISMATCH: source_quote not found on rendered page during screenshot capture. May indicate paraphrase, page change, or required tab navigation. Review needed.
2026-04-30 · Source URL replaced. The FSRA consumer landing page returned 403 to non-browser fetches and lacked a verbatim 'licensed mortgage broker' substring on rendered HTML. Re-pointed to the FSCO/FSRA public licensee list (mbsweblist.fsco.gov.on.ca/agents.aspx), which is the canonical searchable registry and carries the verbatim title 'Mortgage Brokerages, Administrators, Mortgage Agents, and Mortgage Brokers Licensed in Ontario'. Wayback updated.
2026-04-30 · ITER-5 FIX (m-3): primary_source.verbatim_check set to false to match switch-cost:claim-018 honest posture. The registry page heading verifies the page is the FSRA public licensee registry but does not isolate licence #12984 for Homewise Solutions Inc. (which requires a search-form query). Screenshot is the time-stamped evidence layer; specific record requires interactive search. Eliminates posture inconsistency between ird and switch-cost ledgers on the same FSRA registry source.
2026-05-01 · ITER-14 FIX: re-sourced to FSRA registry direct URL where Homewise Solutions Inc. licence #12984 is publicly listed. Verbatim is the literal registry row format. verbatim_check=false because the registry is search-rendered; the screenshot captures the registry-row content.
2026-05-01 · ITER-24 LINT FIX: prior FSRA registry URL returned 404 (no stable per-licensee URL exists). Specific 'Licence #12984' assertion demoted out of claim text because no public stable URL carries it as a verbatim. Claim now anchors to the Homewise partner page that does resolve. License-number verifiability moves to attestation tier (pending Homewise FSRA-licensed staff sign-off).
2026-05-01 · ITER-27 FIX: text demoted. 'Licensed Canadian mortgage brokerage' framing removed because the FSRA registry exposes no stable verbatim URL. Partnership is the only stably verifiable fact; license-status verification moves to attestation tier (pending Homewise FSRA-licensed staff sign-off).

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claim-024
MathTier A

Calculator embedded on the page reproduces the worked-example arithmetic: floor formula (balance * rate / 12 * 3), Big Six IRD (current_posted - discount, then differential * balance * months / 12), monoline IRD (contract - current_discounted, then differential * balance * months / 12), greater-of test, with negative differential floored at zero.

Mortgage fees: Prepayment penalties (Calculation of the IRD)·Verified 2026-04-30
Primary source
Mortgage fees: Prepayment penalties (Calculation of the IRD)
Publisher
Financial Consumer Agency of Canada
Source published
2024
Source vintage
2024
Source URL
https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Methodology source verbatim
the current posted rate for a term with a similar length
How the result was derived
For math claims, the verbatim above is the methodology anchor (the regulatory rule the calculation obeys). The actual numerical result is derived in the ‘Math / extrapolation’ block below from explicit inputs and a reproducible formula. Each scenario input either traces to a verified primary source (cross-claim reference) or is stipulated as illustrative.
Source screenshot
Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text
Wayback archive
https://web.archive.org/web/20260430213639/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html
Conditions for the claim to hold
Calculator runs in the reader's browser; values are reproducible by manual computation against the claim-010 derivation
Default comparison rate aligned with hint text per iter-8 fix; default render correctly produces $1,790 floor outcome
Math / extrapolation
$Inputs default_balance $400,000 ✓ claim-003 Calculator default matches protagonist scenario default_contract_rate 1.79% ✓ claim-014 Calculator default matches protagonist scenario default_months_remaining 18 ✓ claim-010 Calculator default matches worked example default_lender_method Big Six (RBC, TD, Scotia, BMO, CIBC, NBC) ✓ claim-005 Calculator default matches protagonist methodology default_discount_margin 3.00% ✓ claim-010 Calculator default matches worked example default_comparison_rate 6.09% ✓ In source Calculator default value=6.09 matches hint text 'Big Six 2-year posted: 6.09% as of Apr 28 2026'. The 6.09% comparison rate combined with the 3.00% discount margin produces 3.09% comparison-after-discount; 1.79 - 3.09 = -1.30 negative differential; IRD = $0; floor $1,790 governs and matches the displayed default outcome. Reconciles the SOURCING ISSUE flagged in earlier iterations (iter-8). Formula method == 'big6': differential = contract - (compRate - discount); ird = differential > 0 ? balance * differential * months / 12 : 0; method == 'monoline': differential = contract - compRate; ird = differential > 0 ? balance * differential * months / 12 : 0; floor = balance * contract / 12 * 3; actual = max(floor, ird) Result Calculator implements the FCAC posted-rate-minus-discount and contract-rate-vs-current-discounted methodologies correctly; greater-of test correctly applied; negative differential correctly floored at zero. ITER-8 FIX: default comparison rate aligned with hint text at 6.09% (Big Six 2-year posted, April 28 2026); 6.09 - 3.00 = 3.09 comparison-after-discount; 1.79 - 3.09 = -1.30 negative differential; IRD = $0; floor $1,790 governs and matches the displayed $1,790.00 default render. Source of formula FCAC verbatim methodology vocabulary at claim-002, plus standard greater-of test at claim-001.$
Inference logic
The calculator implements the same arithmetic surfaced in claim-010 (worked example). Default values reproduce the protagonist scenario where the floor governs: contract 1.79%, comparison 6.09% (Big Six 2-year posted per hint text), discount margin 3.00%, balance $400K, 18 months remaining; floor = $400K * 0.0179 / 12 * 3 = $1,790, which governs because the differential is negative. Iter-8 reconciled the previously-flagged sourcing inconsistency between hint text and default value attribute.
Composed from
claim-001, claim-002, claim-003, claim-005, claim-006, claim-010
Where in the article
calculator widget; calc-card; embedded JavaScript
Last verified
2026-04-30
Next review due
2026-05-30
2026-04-30 · Initial entry. Calculator script reviewed line-by-line against the FCAC methodology vocabulary; the formula implementation is correct. SOURCING ISSUE flagged: default comparisonRate value (4.39) does not match the hint text (6.09) and produces a $2,400 IRD that would override the displayed $1,790 floor. Recommend reconciliation by raising the default comparisonRate to 6.09 (matches claim-009 and claim-010 worked example) so the calculator's initial render shows the same $1,790 floor outcome the article's protagonist scenario describes.

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Ledger last reviewed 2026-05-01. Article last modified 2026-04-30. Spot a problem with any claim? Report a correction.