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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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Your daily horoscope: June 8, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

A Venus-Saturn link on your birthday will motivate you to stand up and fight for your values. People in positions of power must be made aware that there is at least one brave individual out there who will hold them to account for their actions.

ARIES (March 21 - April 20):

If you go on an impulse buying spree this weekend it won’t be long before you regret it. You don’t have to watch where every dollar and cent goes but you do have to limit the amount of cash you spend on items you don’t really need.

TAURUS (April 21 - May 21):

As energy planet Mars moves into your sign this weekend you will become more assertive and more ambitious. On the work front especially you have been a rising star long enough – now it’s time to become the big star you know you can be.

GEMINI (May 22 - June 21):

You may not be the most introverted member of the zodiac – far from it in fact – but there will be times over the next 48 hours when by looking inside yourself you will come to understand more about the world around you. The two are closely linked.

CANCER (June 22 - July 23):

The message of the stars this weekend is that you are free to do as you please so long as you feel good about it. If, however, your conscience begins to give you trouble you should take that as a sign you need to adjust your behaviour a bit.

LEO (July 24 - Aug. 23):

The way you choose to deal with employers and senior colleagues this weekend will to a large extent determine whether or not your efforts will be a success. They may be annoying at times but you are going to need their support, so play nice.

VIRGO (Aug. 24 - Sept. 23):

Mars moves into the most adventurous area of your chart this weekend and you will feel an overwhelming urge to make things happen in the world. Don’t be afraid to travel further afield than usual – it will broaden your mind and boost your bank balance too.

LIBRA (Sept. 24 - Oct. 23):

You hate it when people keep secrets from you and will go out of your way to discover what friends and family members know that you do not. Chances are that when you find out it will be a bit of an anti-climax. Some secrets can be rather dull.

SCORPIO (Oct. 24 - Nov. 22):

Mars in your opposite sign over the next few weeks means you must expect partners, colleagues and loved ones to be rather demanding. That’s good though, because the more they push you the more you will recognize how much you are capable of.

SAGITTARIUS (Nov. 23 - Dec. 21):

You enjoy competitive situations because they allow you to test not only other people’s limits but your own as well. Just remember that not every encounter has to be viewed in terms of winning and losing. Sharing the spoils with others can be rewarding as well.

CAPRICORN (Dec. 22 - Jan. 20):

Creative activities are under excellent stars this weekend, so give yourself permission to dream and then set about turning those dreams into realities. Above all, ignore the critics and the cynics. With Mars on your side there is precious little you cannot accomplish.

AQUARIUS (Jan. 21 - Feb. 19):

Don’t be alarmed if someone you have feelings for seems a bit distant at the moment, because their attitude is not a reflection on you personally. Give them the time and space they need to come to terms with what appears to be worrying them.

PISCES (Feb. 20 - Mar. 20):

Call it as you see it over the next 48 hours and don’t allow those higher up the social and professional ladder to intimidate you into keeping quiet. You have never been one to turn a blind eye to injustice and you are not about to start now!

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