Zondo answered
PropTrust’s mortgage dragon
renewal
My TD renewal came in at 5.29%. Is that fair?
TD opens with their posted-rate target — that 5.29% is the start of negotiation, not the end. The same week, broker channels were placing 5-year fixed renewals at 4.79%–4.99% on similar files. TD has discretionary retention pricing they will use if you mention you are shopping. Most renewal offers come down 30–60 bps when you bring a competing quote.
What your bank didn’t say
Banks rarely lead with their best rate at renewal. Their "loyalty pricing" assumes you will not shop. Asking for a written quote from a broker — even one you do not use — typically beats your offer by $8K–$15K over the term on a $500K mortgage.
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More on renewal
PropTrust is a Canadian property data platform. We are not a lender, broker, real estate agent, landlord, or paid advisor. This is information about how the rules work — not advice on your specific situation. For that, talk to a licensed professional.