u/Fluffy-Cook-4688

First time renewing my mortgage now with a maturity at September 1st. I was offered either 3.86% fixed for 3 years or 3.5% variable for 5 years. Which one should I choose? Please advise.

First-time mortgage holder here, trying to figure out if this renewal offer from TD is good.

Current mortgage:

• TD fixed closed
• 5.76%
• Maturity: Sept 1, 2026

TD is offering early renewal, starting June 1 instead of September.

Main options:

• 5-year variable: 3.99% / TD Mortgage Prime -0.61%
• 3-year fixed: 4.34%
• 5-year fixed: 4.49%

I also spoke with a broker. They said a comparable 5-year variable might be around 3.66%, but I’d probably need to wait until September and go through the full application process.

Would you take TD’s 5-year variable at 3.99% now, or wait/shop around more? Also, is the 3-year fixed at 4.34% worth considering for stability?

Thanks!