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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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TD Bank Settlement: $15.9 Million Approved for Insufficient Fund Fees Refund

 

The Ontario Superior Court has given the green light to a $15.9 million class-action lawsuit settlement related to TD Bank Group’s non-sufficient fund fees. This settlement aims to compensate customers who were double-charged a $48 fee. The issue of such fees has come under scrutiny, with the federal government pushing for lower charges. For lead plaintiff Tyler Dufault, being 45 cents short on a PayPal bill resulted in a whopping $96 in fees from TD. Approximately 105,000 people who faced similar double-charges are eligible for compensation, and TD has also agreed to amend some practices around these fees. Other major Canadian banks are also facing similar class actions regarding double-charges.

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