Mr. Mudit Jain reports

CIBC INTRODUCES MORE CHOICE AND CONVENIENCE FOR CANADIANS RENEWING THEIR MORTGAGE

Canadian Imperial Bank of Commerce (CIBC) has launched of a new digital tool designed to make it easier for Canadians with mortgages coming up for renewal to get a personalized estimate and special rate in minutes, showing what their payments will be should they choose to switch their mortgage to CIBC, while providing a seamless self-serve experience in just a few easy steps.

According to a recent CIBC poll, more than one-third (35 per cent) of Canadian mortgage holders expect to renew their mortgage in the next two years, with 60 per cent of those renewing saying they plan on choosing a fixed rate.

"In today's changing rate environment, Canadians are looking for more certainty," said Mudit Jain, senior vice-president, borrowing solutions, CIBC. "We understand that renewing a mortgage can feel overwhelming as there is a lot to consider, such as rate options, amortization period, payment frequency, your current circumstances and future goals. This new tool gives Canadians the flexibility to explore their mortgage options at their convenience while locking in a competitive rate. Most importantly, it connects them with a financial adviser for personalized advice and support."

The digital switch tool is available to all Canadians on the CIBC website and provides an estimate within minutes without affecting one's credit score.

The poll also revealed that more than half (55 per cent) of mortgage holders worry about making the wrong decision when renewing their mortgage and nearly half (48 per cent) agree that they need assistance from a mortgage adviser when renewing.

"For homeowners whose mortgage is up for renewal, this is an excellent opportunity to also review your holistic financial picture," added Mr. Jain. "Meeting with a financial adviser can help to determine the best strategies for your unique financial ambitions."

About the CIBC poll

These are some of the findings of an on-line Ipsos poll conducted between March 24 and March 25, 2026, on behalf of CIBC. For this survey, a sample of 1,500 Canadians 18 years and over were interviewed in English and French. Quotas and weighting were used to ensure the sample's composition reflects that of the Canadian population according to census parameters. This survey has a credibility interval of plus or minus 3.1 per cent 19 times out of 20, of what the results would have been had all Canadians over 18 years old been surveyed. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error and measurement error.

About Canadian Imperial Bank of Commerce (CIBC)

CIBC is a leading North American financial institution with 15 million personal banking, business, public-sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, in the United States and around the world.