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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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Canada Day Weekend Sets the Stage for a Bustling Summer Travel Season

 

As Canada Day approaches, millions of Canadians are gearing up for a summer of exploration and adventure. The travel industry is abuzz with activity, and transportation providers are preparing for record-breaking numbers. Here’s what you need to know:

  1. Air Travel: Montreal’s Trudeau International Airport is anticipating a whopping 2.2 million passengers each month in June, July, and August—a new record! Meanwhile, Pearson International Airport expects 160,000 passengers daily during peak summer days, an eight percent increase from last year.

  2. Rail Journeys: VIA Rail is bracing for 45,000 passengers over the Canada Day weekend, with Friday and Monday being the busiest days. Whether you’re exploring the scenic countryside or zipping between cities, rail travel is a popular choice.

  3. Road Trips: Quebecers are hitting the road, with 57 percent planning vacations within the province. If you’re driving, soak in the beautiful scenery but stay focused on the road. CAA-Québec advises safe driving practices to ensure a smooth journey.

Remember, whether you’re soaring through the skies, riding the rails, or cruising the highways, Canada Day weekend marks the start of an exciting summer travel season across the country. 

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