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FIFA World Cup 2026: What It Means for Your Wallet as a Canadian

  Canada is officially a World Cup host nation — and today the country kicks off its home opener. Here's the honest breakdown of what this tournament means for your money, whether you're sitting in the stands, watching from the couch, or just trying to book a hotel room anywhere near Toronto or Vancouver. 🏆 Canada's Home Games: The Schedule at a Glance For the first time since 1986, Canada is back on the men's World Cup stage — and this time, we're co-hosting it. Les Rouges, under head coach Jesse Marsch, are playing three group-stage matches on home soil: Date Match Venue Time (ET) June 12 Canada vs. Bosnia-Herzegovina BMO Field, Toronto 3:00 PM June 18 Canada vs. Qatar BC Place, Vancouver 6:00 PM June 24 Canada vs. Switzerland BC Place, Vancouver 3:00 PM The squad skews young — average age 25 — and leans heavily on superstar captain Alphonso Davies, who has been racing to recover from injury in time to feature. With 13 total games being played across Toronto and ...
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Navigating Your Mortgage Renewal in 2024: Tips for Securing the Best Rate


As 2024 unfolds, many Canadians find themselves facing mortgage renewals amid a backdrop of rising interest rates. If you’re among them, fear not! Here’s a concise guide on how to navigate your mortgage renewal and secure the best rate:

  • Renewal Statement: If your mortgage is with a federally regulated financial institution (such as a bank), they are legally required to provide you with a renewal statement at least 21 days before your maturity date (the last day of your existing mortgage term). Most lenders reach out even earlier, typically between four and six months in advance.
  • Interest Rate Offer: As part of this communication, your lender will present you with a new interest rate. Be prepared—the landscape has changed. While sub-3% rates were common in 2019, the average interest rate for a five-year fixed mortgage now stands at 5.29%. Brace yourself for potential payment increases.
  • The Reality: Two years of aggressive interest rate hikes have left their mark. By the end of 2024, the Bank of Canada predicts that 65% of Canadians will experience an increase in their mortgage payments.
  • Average Increases: A Bank of Canada analysis from last year revealed that those renewing in 2024 with a variable-rate mortgage and fixed payments could face an average increase of 24.5%. Meanwhile, those with a fixed-rate mortgage (term less than five years) might see an increase of 23.1%.
  • Existing Lender Advantage: If you’re renewing with your current lender, you won’t need to re-qualify or prove affordability at these higher rates. However, switching lenders requires going through the qualification process.
  • Shop Around: Don’t settle for the first offer. Explore other lenders and compare rates. Negotiate with your current lender—they might offer a discounted interest rate below what’s quoted in your renewal letter.
  • Be Prepared: Gather proof of offers from other financial institutions or mortgage brokers. Having this information on hand will empower you during negotiations.

Mortgage renewals can be daunting, but with the right approach, you can secure a favorable rate. Remember, knowledge is power—so stay informed, compare options, and make the most of your mortgage renewal in 2024.

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