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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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Wall Street Sees Modest Gains as Investors Anticipate Inflation Data


In a cautious trading session, Wall Street’s major indexes recorded slight advances with investors’ attention fixed on the forthcoming U.S. inflation report. The Dow Jones Industrials and S&P 500 futures signaled a modest uptick, reflecting a market braced for new economic indicators.

Home Depot’s Mixed Results Shares of Home Depot saw an uptick despite the company’s third consecutive quarter of declining sales. The home improvement giant surpassed profit expectations but faces challenges amid high mortgage rates that dampen home buying and renovation activities.

Meme Stocks Surge The meme stock phenomenon witnessed a resurgence, with GameStop and AMC Entertainment experiencing significant premarket jumps. This surge coincided with the reappearance of Keith Gill, also known as “Roaring Kitty,” a central figure in the meme stock movement.

Inflation and Economic Growth Watch Investors remain vigilant for signs of inflationary trends that could influence the Federal Reserve’s rate decisions. The anticipation builds for the U.S. government’s inflation update, which could offer insights into household and wholesale price changes and the broader economic outlook.

Stagflation Concerns Amidst hopes for a soft landing, concerns linger over the possibility of stagflation—a scenario combining high inflation with stagnant economic growth. However, recent remarks by Federal Reserve Chair Jerome Powell have provided some reassurance, suggesting a potential shift in monetary policy if inflation pressures subside.

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