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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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Israeli Forces Intensify Bombardment in Gaza Amid Fierce Fighting

 

In a devastating escalation, Israeli forces have pounded Rafah in southern Gaza and other areas across the enclave. The intense bombardment has resulted in the deaths of at least 38 Palestinians, including civilians, as troops engage in close-quarter combat with Hamas militants. Tanks are pushing into the city, aiming to complete their capture of Rafah, which borders Egypt and has been under assault since early May. The situation is dire, with more than a million displaced people seeking shelter in the city, only to be forced to flee again due to the attacks.

Palestinian health officials report that at least 18 Palestinians were killed in Mawasi, western Rafah, after a tank shelling hit a tent housing displaced families. The Israeli military claims its actions are “precise, intelligence-based,” targeting tunnels used by militants and a university allegedly serving as a Hamas headquarters. Meanwhile, the pace of the Israeli raid has accelerated, with non-stop sounds of explosions and gunfire in western Rafah.

As the conflict continues, Israel’s advance focuses on the last two areas yet to be stormed: Rafah in Gaza’s southern edge and the region surrounding Deir al-Balah in the center. The toll of violence remains devastating, with both Palestinian and Israeli lives lost in this tragic conflict.

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