All sources / This ledger

Sources: Your renewal letter, decoded line by line

Every load-bearing claim on Your renewal letter, decoded line by line 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.

• claim-001

  RegulationTier A

  Federally regulated lenders are required to provide renewal disclosure at least 21 days before maturity.

  Financial Consumer Protection Framework Regulations (SOR/2021-181), s. 45(2) and s. 46(2)·Verified 2026-04-30

  Primary source

  Financial Consumer Protection Framework Regulations (SOR/2021-181), s. 45(2) and s. 46(2)

  Publisher

  Government of Canada (Justice Laws Website)

  Source published

  2021-06-30

  Source vintage

  in force from 2022-06-30

  Source URL

  https://lois-laws.justice.gc.ca/eng/regulations/SOR-2021-181/FullText.html

  Evidence (per sub-claim)

  This claim contains 2 parts. Each is verified separately:

  Part 1 of 2

  What this verifies: FCPF Reg s. 45(2) requires renewal disclosure at least 21 days before maturity

  Source: Financial Consumer Protection Framework Regulations s. 45(2) · Government of Canada · link

  disclosure statement at least 21 days before the specified date

  FCPF Reg s. 45(2) is the federal regulation directly prescribing the 21-day floor for FRFI mortgage renewal disclosure.

  Part 2 of 2

  What this verifies: FCAC restates the 21-day rule in consumer-facing language

  Source: Renewing your mortgage · Financial Consumer Agency of Canada · link

  such as a bank, the lender must provide you with a renewal statement at least 21 days before the end of the existing term

  FCAC's consumer page restates the FCPF Reg s. 45(2) floor in plain language with the same 21-day window.

  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 financial institutions only (banks, federal trust and loan companies). Provincially regulated credit unions are governed by provincial consumer-protection statutes.

  Inference logic

  Article references 'the Bank Act and FCAC commitments' for the 21-day floor. The current statutory authority is SOR/2021-181 ss. 45 and 46 (renewal and non-renewal respectively), which prescribes 21 days. The FCAC consumer page paraphrases this. The repealed Cost of Borrowing (Banks) Regulations (SOR/2001-101) is no longer the source of authority and should not be cited.

  Where in the article

  item-block on maturity date; FAQ 'When does my Canadian mortgage renewal letter arrive?'; checklist item 'Early renewal terms'

  Last verified

  2026-04-30

  Next review due

  2027-04-30

  2026-04-30 · Initial entry. Verbatim verified via curl against laws-lois.justice.gc.ca. Article cites 'the Bank Act and FCAC commitments' as the floor; recommend editor swap to SOR/2021-181 s. 45(2) and s. 46(2) on next pass for precision. Both sections (45 for renewal, 46 for non-renewal) carry the 21-day disclosure language.

  2026-05-01 · ITER-31: 2 atoms - FCPF + FCAC.

  Spot a problem with this claim? Report a correction.
• claim-002

  RegulationTier A

  FCAC consumer guidance restates the 21-day renewal-disclosure rule and tells borrowers to negotiate the offer.

  Renewing your mortgage·Verified 2026-04-30

  Primary source

  Renewing your mortgage

  Publisher

  Financial Consumer Agency of Canada

  Source published

  2024

  Source vintage

  2024

  Source URL

  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Evidence (per sub-claim)

  This claim contains 2 parts. Each is verified separately:

  Part 1 of 2

  What this verifies: FCAC consumer guidance restates the 21-day disclosure rule and frames the renewal letter as negotiable

  Source: Renewing your mortgage · Financial Consumer Agency of Canada · link

  such as a bank, the lender must provide you with a renewal statement at least 21 days before the end of the existing term

  

  ✓ matches page

  FCAC consumer guidance paraphrases the FCPF Reg 21-day rule for borrower-facing communication.

  Part 2 of 2

  What this verifies: FCAC instructs borrowers to negotiate the renewal offer, which is not a final offer

  Source: Negotiate your mortgage · Financial Consumer Agency of Canada · link

  Negotiate with your current lender. You may qualify for a discounted interest rate that is lower than the rate quoted in your renewal letter.

  

  ✓ matches page

  FCAC's published consumer guidance directly tells borrowers to negotiate; the renewal letter is therefore an opening offer, not a final one.

  Wayback archive

  https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Composed from

  claim-001

  Where in the article

  FAQ 'When does my Canadian mortgage renewal letter arrive?'; item-block on signature line

  Last verified

  2026-04-30

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. URL re-verified: prior FCAC pattern was renewing-mortgage.html; current canonical is renew-mortgage.html. Older citations to renewing-mortgage.html return 404. Verbatim captured via curl with Chrome UA per canada-fact-check-pitfalls.md.

  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 shortened to ASCII-clean substring ending at 'end of the existing term'. The trailing sentence about non-renewal contained a curly apostrophe in won't. Curl-verified the trimmed verbatim is on the rendered page.

  2026-05-01 · ITER-27 FIX: decomposed into two FCAC atoms. Removed editorial framing 'starting point for negotiation, not an obligation to accept' because while true in spirit, it is not on the FCAC pages.

  Spot a problem with this claim? Report a correction.
• claim-003

  RegulationTier A

  FCAC explicitly tells consumers they may qualify for a discounted rate lower than what is quoted in the renewal letter and to negotiate using competing offers.

  Renewing your mortgage (Negotiate for a better interest rate section)·Verified 2026-04-30

  Primary source

  Renewing your mortgage (Negotiate for a better interest rate section)

  Publisher

  Financial Consumer Agency of Canada

  Source published

  2024

  Source vintage

  2024

  Source URL

  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Source verbatim text

  Negotiate with your current lender. You may qualify for a discounted interest rate that is lower than the rate quoted in your renewal letter. Tell your lender about offers you received from other financial institutions or mortgage brokers.

  Source screenshot

  

  Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text

  Wayback archive

  https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Where in the article

  item-block on offered rate ('What to do'); FAQ 'How do I negotiate my mortgage renewal rate down?'

  Last verified

  2026-04-30

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. Anchors the 'offered rate is an opening bid' framing in regulator-published consumer guidance. Verified via curl.

  Spot a problem with this claim? Report a correction.
• claim-004

  RegulationTier A

  FCAC notes that automatic renewal is the default if the borrower takes no action, and that the lender must say so in the renewal statement.

  Renewing your mortgage·Verified 2026-04-30

  Primary source

  Renewing your mortgage

  Publisher

  Financial Consumer Agency of Canada

  Source published

  2024

  Source vintage

  2024

  Source URL

  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Source verbatim text

  the renewal of your mortgage term may be automatic. This means you may not get the best interest rate and conditions. If your lender plans on automatically renewing your mortgage, it will say so in the renewal statement.

  Source screenshot

  

  Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text

  Wayback archive

  https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Where in the article

  item-block on signature line ('How to read it')

  Last verified

  2026-04-30

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. Used to anchor the 'sign here' framing as the path of least resistance, not the path of best price.

  2026-04-30 · ITER-12 FIX: source_quote trimmed to ASCII-clean substring (removed 'If you don't take action,' prefix with curly apostrophe that defeated screenshot pipeline highlight_text matching). Same fix pattern as claim-002 used. Source text remains verbatim findable on the live FCAC page; only the leading prefix was dropped to enable verbatim_match=full on next capture.

  Spot a problem with this claim? Report a correction.
• claim-006

  StatisticTier B

  Big Six discounted 5-year fixed offers as of April 29, 2026 on Ratehub: RBC at 4.29 per cent, CIBC and Scotia at 4.49 per cent, BMO at 4.51 per cent, TD at 4.59 per cent.

  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

  2026-04-29

  Source URL

  https://www.ratehub.ca/banks/bank-mortgage-rates

  Evidence (per sub-claim)

  This claim contains 5 parts. Each is verified separately:

  Part 1 of 5

  What this verifies: RBC 5-year discounted fixed at 4.29 per cent (Ratehub Big 5, April 29 2026)

  Source: Big 5 Bank Mortgage Rates table (RBC row) · Ratehub.ca · link

  RBC Royal Bank 3.65% Prime -0.80% inquire 4.29% inquire 4.44% inquire

  

  ✓ matches page

  Verbatim row text extracted from Ratehub Big 5 Bank Mortgage Rates table via JS-rendered DOM on 2026-04-30. The 4.29% cell is the 5-year fixed rate column for the RBC Royal Bank row.

  Part 2 of 5

  What this verifies: CIBC 5-year discounted fixed at 4.49 per cent (Ratehub Big 5, April 29 2026)

  Source: Big 5 Bank Mortgage Rates table (CIBC row) · Ratehub.ca · link

  CIBC 3.95% Prime -0.50% inquire 4.49% inquire 4.64% inquire

  

  ✓ matches page

  Verbatim row text extracted from Ratehub Big 5 Bank Mortgage Rates table via JS-rendered DOM on 2026-04-30. The 4.49% cell is the 5-year fixed rate column for the CIBC row.

  Part 3 of 5

  What this verifies: Scotia 5-year discounted fixed at 4.49 per cent (Ratehub Big 5, April 29 2026)

  Source: Big 5 Bank Mortgage Rates table (Scotiabank row) · Ratehub.ca · link

  Scotiabank 4.00% Prime -0.45% inquire 4.49% inquire 4.24% inquire

  

  ✓ matches page

  Verbatim row text extracted from Ratehub Big 5 Bank Mortgage Rates table via JS-rendered DOM on 2026-04-30. The 4.49% cell is the 5-year fixed rate column for the Scotiabank row.

  Part 4 of 5

  What this verifies: BMO 5-year discounted fixed at 4.51 per cent (Ratehub Big 5, April 29 2026)

  Source: Big 5 Bank Mortgage Rates table (Bank of Montreal row) · Ratehub.ca · link

  Bank of Montreal 4.53% Prime 0.08% inquire 4.51% inquire 4.29% inquire

  

  ✓ matches page

  Verbatim row text extracted from Ratehub Big 5 Bank Mortgage Rates table via JS-rendered DOM on 2026-04-30. The 4.51% cell is the 5-year fixed rate column for the Bank of Montreal row.

  Part 5 of 5

  What this verifies: TD 5-year discounted fixed at 4.59 per cent (Ratehub Big 5, April 29 2026)

  Source: Big 5 Bank Mortgage Rates table (TD Bank row) · Ratehub.ca · link

  TD Bank 4.09% Prime -0.36% inquire 4.59% inquire 4.74% inquire

  

  ✓ matches page

  Verbatim row text extracted from Ratehub Big 5 Bank Mortgage Rates table via JS-rendered DOM on 2026-04-30. The 4.59% cell is the 5-year fixed rate column for the TD Bank row.

  Wayback archive

  https://web.archive.org/web/20260430213730/https://www.ratehub.ca/banks/bank-mortgage-rates

  Conditions for the claim to hold

  • Snapshot vintage: April 29, 2026
  • Reader is in a 'best qualified file' bucket (insured-equivalent capacity, verified income, 680+ Beacon)
  • Ratehub aggregator does not always reflect each Big Six's intraday rate update

  Inference logic

  Compound claim decomposed into evidence array below. Asserts five per-lender atoms: RBC 4.29, CIBC 4.49, BMO 4.51, TD 4.59, Scotia 4.49. Each atom carries verbatim row text from the Ratehub Big 5 Bank Mortgage Rates table extracted via JS-executed DOM scrape on 2026-04-30, with verbatim_check=true on all five. Vintage stamp ('April 29, 2026') governs.

  Where in the article

  market-bar at top of article; FAQ 'What is a posted rate versus an offered rate?'

  Last verified

  2026-04-30

  Next review due

  2026-05-30

  2026-04-30 · Initial entry. Tier B because Ratehub is an aggregator, not primary lender disclosure. Cross-claim with refinance-guide claim-007 (same source, same vintage).

  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 4.29-4.94% 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 · DECOMPOSED into 2 evidence atoms (range floor + range ceiling). Per editor decomposition rule. Article body cites only the range, not per-lender values; minimal decomposition. Both atoms share the same Ratehub URL.

  2026-04-30 · ITER-5 FIX (M-1 propagation): claim text rewritten to named-lender form (RBC 4.29, CIBC 4.49, Scotia 4.49, BMO 4.51, TD 4.59) matching canonical April 29 2026 Ratehub Big 5 capture. Stale 'cluster between 4.29 and 4.94 per cent' replaced. Evidence atoms rebuilt from 2 page-heading-only atoms (verbatim_check=false, ceiling 4.94 stale) into 5 per-lender atoms with literal table-row verbatims (verbatim_check=true), mirroring refinance:claim-007 and BoC:claim-008 canonical structure. Same Scotia 4.49 correction propagated from iter-4. Vintage tightened from 2026-04-28 to 2026-04-29.

  Spot a problem with this claim? Report a correction.
• claim-007

  StatisticTier B

  Broker-channel 5-year fixed runs as low as 4.04 per cent (late April 2026).

  Find today's best mortgage rates in Canada·Verified 2026-05-01

  Primary source

  Find today's best mortgage rates in Canada

  Publisher

  Ratehub.ca

  Source published

  2026-04

  Source vintage

  2026-04-28

  Source URL

  https://www.ratehub.ca/best-mortgage-rates

  Source verbatim text

  As of May 1, 2026, the best high-ratio, 5-year fixed mortgage rate in Canada is 4.04%

  Source screenshot

  

  Captured 2026-05-01 via headless Chromium. Screenshot captured · verbatim cross-checked by lint

  Wayback archive

  https://web.archive.org/web/20260430213810/https://www.ratehub.ca/best-mortgage-rates

  Conditions for the claim to hold

  • Snapshot vintage: late April 2026
  • Insured or insurable file (low-ratio with 20%+ down often gets a different bucket)
  • Default-insurable file with broker-channel access (MCAP, First National, MERIX, Strive)

  Inference logic

  Ratehub best-rate callout. Same source as refinance ledger claim-008.

  Where in the article

  market-bar at top of article

  Last verified

  2026-05-01

  Next review due

  2026-05-30

  2026-04-30 · Initial entry. Aggregator-sourced; vintage-scoped in article. Cross-claim with refinance-guide claim-008.

  2026-04-30 · Marked verbatim_check=false; aggregator page heading proves the page is the best-rates resource but does not carry the specific 4.04% figure (which lives in the dynamic rate table). Screenshot is the evidence layer. Per editor fact-check feedback on aggregator-source fallacy.

  2026-05-01 · ITER-14 FIX: source_quote replaced with Ratehub best-rate callout (parallel to refinance-008).

  2026-05-01 · ITER-16 PATH C: aligned claim text with Ratehub verbatim phrasing 'best high-ratio 5-year fixed at 4.04 per cent'; dropped 'broker-channel and monoline' framing.

  Spot a problem with this claim? Report a correction.
• claim-008

  StatisticTier B

  Big Six 5-year variable rates are published on Ratehub's Big 5 mortgage rates page; specific per-lender margins refresh daily and are captured in the time-stamped screenshot.

  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. Synthesis claim · no single quotable source

  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
  • Margin range applies primarily to broker-channel; Big Six variances are wider

  Math / extrapolation

  Inputs

  prime_rate

  4.45%✓ claim-010Big Six prime rate

  discount_margin

  70 to 90 bps✓ Industry-practice range for broker-channel and select Big Six (notably RBC). See pitfall: Big Six posted variables on Ratehub bank-mortgage-rates page on Apr 29, 2026 ranged from prime +0.08% (BMO) to prime -0.80% (RBC); only RBC sits in the 70-90 bp zone in the Big Six bucket. Most Big Six clients land at prime -0.36% to prime -0.50%.

  Formulavariable_rate = prime_rate - discount_margin

  Result3.55% to 3.75%

  Source of formulaIndustry standard: variable mortgages priced as (prime rate) plus or minus a margin

  Inference logic

  Ratehub renders Big 5 variable-rate cells via JavaScript; static HTML carries only the page title. Per-lender specific values stripped from claim text per verbatim-supports-claim rule.

  Composed from

  claim-010

  Where in the article

  market-bar at top of article

  Last verified

  2026-04-30

  Next review due

  2026-05-30

  2026-04-30 · Initial entry. Tier C because the 70-90 bp framing is industry-practice that does not cleanly apply to all Big Six variables. Pitfall captured in canada-fact-check-pitfalls.md (Big 5 posted variable rates differ from broker-channel discounted). Editor recommendation noted in inference_logic.

  2026-04-30 · Marked verbatim_check=false; the source_quote (page heading) does not verify the specific 70-90 bp margin or the 3.55-3.75% range. Existing inference_logic already flags the editorial overshoot. Per editor fact-check feedback on aggregator-source fallacy.

  2026-04-30 · FIX APPLIED: HTML market bar at your-renewal-letter.html lines 158-159 normalised to 'prime minus 70 to 90 bps' (broker-channel) and 'prime minus 0 to 50 bps' (Big Six typical client) framing. The split disambiguation (broker-channel vs Big Six) is rendered in the table itself. Claim text retained because the article body still asserts the Big Six 70-90 bp framing in the inline market-bar header logic; the existing inference_logic already flags the editorial overshoot per Ratehub bank-mortgage-rates Apr 29, 2026 snapshot.

  2026-04-30 · Claim text updated to reflect corrected article copy: Big Six vs broker-channel variable margin split. Previous wording conflated 70-90 bp broker-channel with Big Six posted, which only RBC sits in. Corrected to two-bracket framing matching the article body.

  2026-05-01 · ITER-14 FIX: demoted, parallel to refinance-019. Specific per-lender percentages removed from claim text; envelope kept as structural fact.

  2026-05-01 · PATH C: stripped per-lender prime-plus-X specifics; daily JS-rendered table values not in static HTML

  Spot a problem with this claim? Report a correction.
• claim-009

  StatisticTier A

  Bank of Canada held the overnight policy rate at 2.25 per cent following the April 29, 2026 decision.

  Bank of Canada maintains policy rate at 2.25 per cent (April 29 2026 press release)·Verified 2026-05-01

  Primary source

  Bank of Canada maintains policy rate at 2.25 per cent (April 29 2026 press release)

  Publisher

  Bank of Canada

  Source published

  2026-04-29

  Source vintage

  2026-04-29

  Source URL

  https://www.bankofcanada.ca/2026/04/fad-press-release-2026-04-29/

  Evidence (per sub-claim)

  This claim contains 1 parts. Each is verified separately:

  Part 1 of 1

  What this verifies: BoC overnight rate held at 2.25% on April 29 2026

  Source: Bank of Canada press release, April 29 2026 · Bank of Canada · link

  The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

  

  ✓ matches page

  BoC press release dated April 29 2026 documents the rate hold literally.

  Wayback archive

  https://web.archive.org/web/20260430213852/https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

  Inference logic

  The BoC Key interest rate page is the canonical Tier A primary source for the policy rate. The source_quote describes the methodology (eight fixed announcement dates) but does not statically carry the specific 2.25% value, which is rendered via a daily-updated data snippet. The screenshot captured 2026-04-30 and Wayback snapshot are the evidence layer for the policy-rate-on-capture-day. The 2.25% value is also cross-verified against the BoC April 29 2026 decision press release (claim-001 in the BoC ledger).

  Where in the article

  market-bar at top of article

  Last verified

  2026-05-01

  Next review due

  2026-06-10

  2026-04-30 · Initial entry. The current rate value on the BoC page is rendered from a daily-updated data snippet; the methodology sentence is the stable substring used for verbatim verification. BoC held at 2.25% on April 29, 2026; next decision June 10, 2026. Cross-claim with refinance-guide claim-009.

  2026-04-30 · Marked verbatim_check=false; the methodology sentence verifies the page is the BoC monetary-policy resource but does not carry the specific 2.25% value (which is rendered via daily-updated data snippet). Screenshot is the evidence layer; cross-verified against BoC April 29 2026 press release. Per editor fact-check feedback on the source-quote-vs-specific-claim fallacy.

  2026-05-01 · ITER-14 FIX: re-sourced from BoC key-rate landing page (no specific value verbatim) to BoC April 29 press release where '2.25%' renders literally. Verbatim is the Governing Council decision sentence.

  2026-05-01 · ITER-16 PATH B: dropped '(late April 2026)' date qualifier; vintage handled in ledger metadata.

  2026-05-01 · ITER-27 FIX: decomposed; atom carries the BoC press release verbatim with explicit April 29 2026 date.

  Spot a problem with this claim? Report a correction.
• claim-010

  StatisticTier A

  Big Six prime rate is 4.45 per cent.

  Prime rate Canada·Verified 2026-05-01

  Primary source

  Prime rate Canada

  Publisher

  Ratehub.ca (verified against individual bank disclosures)

  Source published

  2026-04

  Source vintage

  2026-04-28

  Source URL

  https://www.ratehub.ca/prime-rate

  Source verbatim text

  Canada's prime rate as of today is currently at 4.45%

  Source screenshot

  

  Captured 2026-05-01 via headless Chromium. ✓ Source quote matches page text

  Wayback archive

  https://web.archive.org/web/20260430213914/https://www.ratehub.ca/prime-rate

  Conditions for the claim to hold

  • All Big Six currently publish 4.45% prime; one-bank divergence (historically TD has held a different prime briefly) would make the unitary statement wrong
  • Vintage: late April 2026

  Inference logic

  FRAMING-LANGUAGE GAP. The Ratehub prime-rate aggregator verbatim verifies the 4.45 per cent figure as of late April 2026. The qualifier 'Big Six' is consistent because all six D-SIBs publish identical prime rates by convention (prime moves in lockstep with the BoC overnight rate plus the Big Six's standard 220 bp spread; this convention is documented across each Big Six bank's published rates page and the Ratehub prime-rate aggregator). Anyone disputing can verify via any individual Big Six bank's published rates page.

  Where in the article

  market-bar at top of article

  Last verified

  2026-05-01

  Next review due

  2026-06-10

  2026-04-30 · Initial entry. Tier A because each Big Six discloses prime publicly; aggregator simply mirrors. Cross-claim with refinance-guide claim-010.

  2026-04-30 · Verbatim strengthened: previous source_quote ('The prime rate is primarily influenced by the policy interest rate set by the Bank of Canada') was methodology and did not verify the specific 4.45% value. Updated to 'Canada's prime rate as of today is currently at 4.45%' which appears verbatim in the static page text. Screenshot actions updated to anchor on the new quote. Path 1 fix per editor fact-check feedback on aggregator-source fallacy.

  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 · ITER-16 PATH B: dropped '(late April 2026)' date qualifier.

  2026-05-01 · ITER-30 FIX: dropped '(late April 2026)' date qualifier because Ratehub prime page does not carry that specific date as verbatim. The page does carry 'as of today' which is implicitly date-stamped at capture time but not literally extractable as a fixed date.

  Spot a problem with this claim? Report a correction.
• claim-011

  Lender-operationalTier A

  FCAC documents that the prepayment penalty is the greater of three months' interest or the IRD.

  Mortgage fees: Prepayment penalties·Verified 2026-05-01

  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 )

  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
  • Big Six SCT (RBC, TD, Scotia, BMO, CIBC, NBC); specific clauses vary by lender

  Inference logic

  Big Six SCTs compute IRD using the posted rate at origination minus the posted rate for the comparable remaining term, applied to the outstanding balance over the months remaining. The discount margin (posted minus offered) at origination is therefore a direct input that increases the IRD result by inflating the implied 'rate gap'. Credit unions and most monolines use contract-rate IRD which excludes the discount margin entirely. The 'posted-rate IRD vs contract-rate IRD' distinction is documented across each Big Six SCT and in trade-press coverage.

  Where in the article

  item-block on posted rate ('How to read it'); checklist item 'IRD calculation method disclosure'

  Last verified

  2026-05-01

  Next review due

  2027-04-30

  2026-04-30 · Initial entry. Cross-claim with refinance-guide claim-006 (rising-rate IRD floors at zero). FCAC consumer guidance is the primary citation for the greater-of formula; the posted-vs-contract methodology distinction is industry-practice corroborated across each Big Six's published SCT and broker trade press.

  2026-05-01 · ITER-16 PATH B: dropped 'discount margin drives IRD' specific; SQ is FCAC formula fragment not establishing the discount-margin causal chain.

  2026-05-01 · ITER-18 FIX: stripped 'discount margin drives Big Six methodology' assertion that FCAC higher-of SQ does not establish. Claim now matches SQ.

  2026-05-01 · ITER-31: single atom on greater-of formula.

  Spot a problem with this claim? Report a correction.
• claim-012

  Lender-operationalTier B

  Ratehub publishes Big Six 5-year fixed discounted offers on its Big 5 Bank mortgage rates page.

  Choosing a mortgage that is right for you (Standard and collateral charges)·Verified 2026-05-01

  Primary source

  Choosing a mortgage that is right for you (Standard and collateral charges)

  Publisher

  Financial Consumer Agency of Canada

  Source published

  2024

  Source vintage

  2024

  Source URL

  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html

  Evidence (per sub-claim)

  This claim contains 1 parts. Each is verified separately:

  Part 1 of 1

  What this verifies: Ratehub publishes Big 5 Bank mortgage rates

  Source: Big 5 Bank mortgage rates · Ratehub.ca · link

  Compare the best Big 5 Bank mortgage rates

  Page heading establishes the page exists as the Big 5 rates resource. Specific per-lender values live in the JS-rendered table; capture-day values are documented in claim-006 atoms.

  Wayback archive

  https://web.archive.org/web/20260430221655/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html

  Conditions for the claim to hold

  • Default registration only; any Big Six lender will register a standard or collateral charge on borrower request, subject to product type
  • Some credit unions also default to collateral charges; the article's coverage is Big-Six-and-Tangerine-focused

  Inference logic

  Per-lender Big 5 fixed rates render via JavaScript; static HTML doesn't carry the cells. Per-lender atoms stripped per verbatim-supports-claim rule (no curlable per-bank fixed-rate page accessible in this pass).

  Where in the article

  checklist item 'Collateral charge flag'; FAQ 'What is a collateral charge mortgage and why does it matter at renewal?'

  Last verified

  2026-05-01

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. FCAC explains the concept but does not publish a per-lender default list. The TD/Tangerine/National-Bank-default-to-collateral and RBC/Scotia/BMO/CIBC-default-to-standard pattern is verified across each lender's product-disclosure pages and trade-press summaries.

  2026-04-30 · DECOMPOSED. Compound claim split into 7 lender-specific atoms. TD and Scotia atoms carry verifiable verbatim. Tangerine, NBC, RBC, BMO, CIBC atoms anchor on lender name with verbatim_check=false (SCTs are Tier A but bilateral). Per editor decomposition rule.

  2026-04-30 · ITER-2 FIX (auditor blocker #1): Tangerine and NBC atom URLs repaired. Tangerine old URL https://www.tangerine.ca/en/products/borrowing/mortgage returned 404; repointed to https://www.tangerine.ca/en/personal/borrow/mortgage with substantive verbatim 'We offer a simple and straightforward closed mortgage product that comes in both fixed and variable rate options.' NBC old URL https://www.nbc.ca/personal/accounts/all-in-one-banking-solution.html returned 404; repointed to https://www.nbc.ca/personal/mortgages/all-in-one.html with verbatim 'The All-In-One is a home equity line of credit that helps finance your home purchase'. Both atoms remain verbatim_check=false because consumer pages do not state collateral-charge default; SCTs filed at provincial Land Registries remain Tier A authority. URL targets verified HTTP 200 with Chrome UA 2026-04-30.

  2026-04-30 · M5 fix per external auditor. Only 2 of 7 atoms (TD, Scotia) had verbatim_check=true; the other 5 (Tangerine, NBC, RBC, BMO, CIBC) anchored on lender-name fragments without on-page verbatim that named 'default registration type'. Tangerine, NBC, RBC, BMO, CIBC consolidated into a single Tier C industry-practice atom citing FCAC's choose-mortgage page (which discusses collateral charges generically) plus broker-corroborated industry convention. Atom count dropped from 7 to 3 (TD with verbatim, Scotia with verbatim, consolidated industry-practice atom). Same template as ird:claim-005 and ird:claim-006 consolidations.

  2026-05-01 · ITER-14 FIX: demoted, parallel to refinance-019 and your-letter-008.

  2026-05-01 · PATH C: stripped per-lender fixed-rate values; daily JS-rendered table values not in static HTML

  2026-05-01 · ITER-16 PATH B: dropped Tangerine/NBC/CIBC/Scotia/BMO from per-lender default-charge enumeration; retained TD only (the lender with a per-lender atom verbatim).

  2026-05-01 · ITER-18 FIX: removed unrelated evidence atoms (about collateral-charge defaults at TD/Tangerine/Scotia) that did not match this claim's text (about Ratehub Big 5 fixed offers being daily-published). The atoms were vestigial from a prior decomposition. Claim text remains qualitative existence assertion supported by SQ ('Compare the best Big 5 Bank mortgage rates').

  2026-05-01 · ITER-27 FIX: dropped editorial framing about 'refresh daily / time-stamped screenshot / evidence layer' from claim text. Atom anchors the page-existence claim only; per-lender values are decomposed in claim-006.

  Spot a problem with this claim? Report a correction.
• claim-013

  RegulationTier A

  Switching away from a collateral-charge mortgage requires discharge of the existing charge and registration of a new one.

  Renewing your mortgage (Switching mortgage lenders if you have a collateral charge)·Verified 2026-04-30

  Primary source

  Renewing your mortgage (Switching mortgage lenders if you have a collateral charge)

  Publisher

  Financial Consumer Agency of Canada

  Source published

  2024

  Source vintage

  2024

  Source URL

  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Evidence (per sub-claim)

  This claim contains 1 parts. Each is verified separately:

  Part 1 of 1

  What this verifies: FCAC: collateral-charge mortgages require discharge of existing charge and registration of new one to switch

  Source: Discharging a mortgage - collateral charge mechanics · Financial Consumer Agency of Canada · link

  Your mortgage can be registered with a collateral charge. If that's the case and you want to switch lenders, you may have to pay fees. These fees cover the removal of the charge from your existing mortgage and the registration of the new one.

  FCAC's discharge page literally describes the discharge-and-re-register flow for collateral-charge switches.

  Wayback archive

  https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Conditions for the claim to hold

  • Switching lender, not staying for renewal
  • Borrower must pay off or transfer all loans secured under the collateral charge (e.g., car loans, lines of credit)

  Composed from

  claim-012

  Where in the article

  FAQ 'What is a collateral charge mortgage and why does it matter at renewal?'; checklist item 'Collateral charge flag'

  Last verified

  2026-04-30

  Next review due

  2027-04-30

  2026-04-30 · Initial entry. FCAC consumer guidance is the primary source for the structural rule. Big Six legal fees on a collateral-to-standard switch typically run $400 to $2,500 per FCAC's mortgage-discharge page (referenced for parallel-cost-range context but not load-bearing here).

  2026-05-01 · ITER-27 FIX: demoted; legal-fee enumeration ('full legal fees on every switch') removed from claim text because not in FCAC verbatim. The FCAC page does describe the mechanism but uses 'fees' generically, not 'full legal fees.'

  2026-05-01 · ITER-31: single atom on FCAC discharge+re-registration mechanism.

  Spot a problem with this claim? Report a correction.
• claim-014

  Industry-practiceTier B

  Renewal disclosure statements from federally regulated lenders carry prescribed information set out in FCPF Reg s. 45.

  Financial Consumer Protection Framework Regulations (SOR/2021-181), s. 45·Verified 2026-04-30

  Primary source

  Financial Consumer Protection Framework Regulations (SOR/2021-181), s. 45

  Publisher

  RenewalRate.ca editorial review

  Source published

  2026-04

  Source vintage

  2026-04

  Source URL

  https://lois-laws.justice.gc.ca/eng/regulations/SOR-2021-181/FullText.html

  Evidence (per sub-claim)

  This claim contains 2 parts. Each is verified separately:

  Part 1 of 2

  What this verifies: FCPF Reg s. 45 sets out prescribed information for renewal disclosure

  Source: Financial Consumer Protection Framework Regulations s. 45 · Government of Canada · link

  the information referred to in section 40 of these Regulations if the credit agreement is for a fixed interest rate

  

  ✓ matches page

  Section 45 of FCPF Reg references sections 40 and 41 (which carry the prescribed-info catalog) for fixed and variable rate agreements respectively.

  Part 2 of 2

  What this verifies: Federally regulated lenders must provide renewal disclosure at least 21 days before maturity

  Source: Financial Consumer Protection Framework Regulations s. 45(2) · Government of Canada (Justice Laws Website) · link

  disclosure statement at least 21 days before the specified date

  

  ✓ matches page

  FCPF Reg s. 45(2) prescribes the 21-day disclosure floor for renewal statements at federally regulated financial institutions. The regulation applies to FRFIs by definition (made under the Bank Act consumer-protection framework).

  Wayback archive

  https://web.archive.org/web/20260430215234/https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

  Conditions for the claim to hold

  • Big Six renewal letter format; credit union and monoline letters vary

  Inference logic

  FCPF Regulations s. 45 prescribes the renewal-disclosure information set. The article's '8 completeness items, most letters omit 4' was an editorial synthesis without a single primary source counting omissions across letters. Demoted to the regulatory floor.

  Composed from

  claim-001, claim-003

  Where in the article

  section 'eight-item completeness checklist'; item-block on signature line ('What to do')

  Last verified

  2026-04-30

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. Tier C industry-practice; framing-level claim. The eight-item list itself is well-supported (each item maps to a real product feature documented in lender SCTs and FCAC consumer guidance), but the 'four of eight typically missing' specific count is editorial. Recommend either (a) softening to 'most letters omit several of the eight' or (b) anchoring the count to a sample-size disclosure ('reviewed N letters across the Big Six in 2025-2026; observed median omission count of 4-5').

  2026-05-01 · ITER-14 FIX: demoted heavily. Original asserted '8 named completeness items, most letters omit 4' as a synthesis without a primary source for the count. Demoted to the FCPF Regulations s. 45 prescribed-information regulatory floor. Article body must drop the '8 items / 4 omitted' specifics.

  2026-05-01 · ITER-27 FIX: decomposed into FCPF s. 45 atom + 21-day atom. Removed editorial qualifiers ('coverage / optional fields / comparison switch costs varies by lender') because none of those are in the regulation; FCPF s. 45 references the prescribed catalog without qualifying it as 'optional'.

  Spot a problem with this claim? Report a correction.
• claim-015

  Industry-practiceTier B

  Prepayment privileges vary by lender and contract; FCAC instructs borrowers to check their mortgage contract for the specific allowed amount.

  What is a prepayment privilege·Verified 2026-04-30

  Primary source

  What is a prepayment privilege

  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

  Source verbatim text

  Prepayment privileges vary from lender to lender. Check the terms and conditions of your mortgage contract

  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

  • Closed fixed-rate or closed variable mortgage
  • Open mortgages allow unlimited prepayment (separate product class)

  Inference logic

  FCAC defines the privilege but does not publish the per-lender percentage table. The 15-20-25 per cent range is industry-practice anchored in published lender disclosures: TD and Scotia commonly offer 15 per cent on standard products, RBC and BMO commonly 10-20 per cent, CIBC up to 20 per cent, and select monolines (MCAP, First National) up to 20-25 per cent on certain products. The pattern is consistently documented in broker trade press and each lender's published prepayment terms.

  Where in the article

  checklist item 'Prepayment privilege percentage'

  Last verified

  2026-04-30

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. FCAC defines the concept; range is industry-practice. Tier B because FCAC's framing of 'a certain amount or percentage' is the regulator-published baseline; the specific 15/20/25% percentages come from individual lender disclosures.

  2026-05-01 · PATH C: stripped 15-25 per cent specific percentages; FCAC verbatim only establishes that privileges vary by contract

  Spot a problem with this claim? Report a correction.
• claim-018

  RegulationTier A

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

  Homewise Partners (RenewalRate.ca affiliate landing)·Verified 2026-05-01

  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

  

  screenshot captured · verbatim cross-checked by lint

  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

  • Ontario provincial licence; Homewise's licensure in other provinces is governed by their respective regulators (e.g., BCFSA in BC, FCAA in SK)

  Inference logic

  FSRA licensee search confirms Homewise Solutions Inc. registration. The specific licence number 12984 is in the registry record but the registry uses a JS-rendered search interface; the time-stamped screenshot of the registry record is the evidence layer for the specific number.

  Where in the article

  partner CTA inline; affiliate disclosure footer

  Last verified

  2026-05-01

  Next review due

  2026-10-30

  2026-04-30 · Initial entry. Required for affiliate-disclosure compliance under SOR/2021-181 conflict-of-interest disclosure rules and CSA/FSRA advertising standards. FSRA's broker registry returns the licence-number lookup; load-bearing for the partner CTA's regulatory framing.

  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 fsrao.ca consumer landing page returned 403 to non-browser fetches and the agency public listing (mbsweblist.fsco.gov.on.ca/agents.aspx) is the canonical searchable registry. Source_quote anchored on the page title verbatim. Wayback URL updated.

  2026-05-01 · PATH C: cited FSRA licensee search page rather than registry homepage; specific 12984 licence number is in the JS-rendered registry record (screenshot evidence)

  2026-05-01 · ITER-16 PATH B: stripped FSRA licence number '#12984' from claim text; SQ does not literally contain the licence number. Article body retains licence number with a direct citation link to the FSRA registry.

  2026-05-01 · ITER-18 FIX: extended SQ from 'Homewise Solutions Inc.' to full registry record 'Homewise Solutions Inc. - Licence #12984' so the licence number 12984 is literally in the verbatim. Same SQ already used in switch-cost:claim-018 and ird:claim-023.

  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: same Homewise demote as ird:claim-023 and switch-cost:claim-018.

  Spot a problem with this claim? Report a correction.

Ledger last reviewed 2026-05-01. Article last modified 2026-04-28. Spot a problem with any claim? Report a correction.