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Big Six Banks Raise Fixed Mortgage Rates: What Your Renewal Costs Now

  Canadian Money Brief • Mortgages Updated Saturday, October 17, 2026 If your mortgage term ends this winter, the rate you saw advertised in August is probably gone. All six of Canada’s big banks have raised fixed rates since early September, and the Bank of Canada hasn’t touched its policy rate in almost a year. That disconnect catches a lot of homeowners off guard. Your fixed mortgage rate doesn’t follow the Bank of Canada. It follows the bond market. And bond yields have been climbing on oil-driven inflation worries, which means the people feeling it first right now are the ones opening a renewal letter. The numbers at a glance Up to 0.50 pt in fixed-rate increases at the big banks in about five weeks • BoC policy rate still 2.25% • Big bank prime still 4.45% • About $110 a month more on a $400,000 balance from a half-point jump How far have the big banks moved? Depending on the term, some big bank fixed rates are up by as much as half a percentage point in roughly five week...
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U.S. Dispatches Aid Ship to Gaza Following Biden’s Pledge to Construct Pier

 

In a significant humanitarian effort, the U.S. Army has dispatched a ship to provide much-needed aid to Gaza. This move comes just days after President Joe Biden made a commitment to construct a temporary pier, ensuring supplies reach the besieged enclave.

The General Frank S. Besson, laden with essential supplies, embarked on its journey from Virginia to Gaza. Not only will it deliver humanitarian aid, but it also carries logistics to build the initial equipment for the temporary port. This strategic pier will facilitate the efficient delivery of supplies to Gaza, which has been grappling with dire conditions.

As Ramadan approaches and with UN warnings of an impending famine in Gaza, this maritime initiative is crucial. Another ship, loaded with aid, stands ready to set sail from Cyprus, organized by a Spanish charity. The urgency is palpable, as the people of Gaza await relief amidst ongoing conflict.

The U.S. military’s commitment to aiding Gaza underscores the importance of international solidarity during challenging times. As the aid ship sails toward its destination, it carries not only supplies but also a message of compassion and support.

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