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Mortgage Renewal Shock 2026: What Canadian Homeowners Need to Know

  The Reality: Over 60% of Canadian mortgages are renewing in 2025 and 2026—many at rates significantly higher than their original terms. While some homeowners will see relief, others face payment increases of 15–40%. This guide will help you understand what's happening, run the numbers, and explore your options before your renewal date arrives. The Big Picture: What's Happening in 2026 Canada is experiencing a historic wave of mortgage renewals. A large cohort of mortgages originated during the pandemic's historic low-rate period—when rates hovered around 2% or lower in 2020–2021—are now maturing and resetting at today's rates. The Bank of Canada staff estimate that roughly 60% of outstanding mortgages will renew in 2025 and 2026, making this the most significant renewal cycle in decades. In 2026, the average mortgage renewal increase is projected to moderate to around 6%, though individual experiences vary dramatically depending on mortgage type and renewal timing. W...
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Health Canada authorizes updated Pfizer-BioNTech COVID vaccine


Health Canada has authorized Pfizer-BioNTech’s updated COVID-19 vaccine for people six months and older.

The mRNA vaccine targets the Omicron XBB.1.5 subvariant that is circulating in Canada.

This is the second vaccine targeting XBB.1.5 that will be available in this country.

Earlier this month, Health Canada authorized Moderna's updated mRNA vaccine.

Both Pfizer and Moderna's shots are one-dose vaccines for people five years of age and older.

Three shots of the Pfizer vaccine is recommended for children between six months and four years of age who have not received their primary series of a COVID-19 vaccine.

Health Canada says it is currently reviewing an updated non-mRNA vaccine from Novavax.

Novavax’s vaccine has been submitted for consideration for people age 12 years and older.

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