I think that most banks offer you their posted rate (or just a notch better) on a renewal, not their best rate. In most cases, a simple call back should get you a better deal by just asking for it. When my mortgage came up, I called back and said that I think I can do better by going elsewhere and quickly came back with an offer that was much closer to the other ones out there.
Those rates they offered don't really seem that good. In particular, the 5-year fixed seems quit high. Check out some rates here:
http://www.ratehub.ca/best-mortgage-rates (May not be the best site for rates, but was one of the first ones I found for comparison.)