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Bank of Canada Says More Rate Hikes Could Be Coming: What It Means for Your Mortgage and HELOC

  Canadian Money Brief  |  November 11, 2026 Bank of Canada Says More Rate Hikes Could Be Coming: What It Means for Your Mortgage and HELOC By the MoneySavings.ca team  •  6 min read The Bank of Canada raised its key rate on October 28, the first increase since 2023. Yesterday it signalled it may not be done. The summary of deliberations, released Tuesday, says Governing Council agreed there could be a need to raise the policy rate further, while taking decisions one meeting at a time. If you carry a variable-rate mortgage or a home equity line of credit (HELOC), that is a headline worth a few minutes. Here is what the Bank said, what another hike would cost, and what you can do before the next decision on December 9 . 2.50% Policy rate since Oct 28 4.70% Big-bank prime since Oct 29 3.5% BoC CPI forecast, end of 2026 Dec 9 Next rate decision What the Bank actually said The core of the story is energy. The Bank notes that the war in the Middle East is in its eig...
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Canadian Seniors to Receive Increased Old Age Benefits

 

Canadian seniors are set to receive a boost in their Old Age Security (OAS) benefits starting this July. The increase, which is part of a scheduled adjustment to account for inflation, will see benefits rise by 2.8% compared to the previous year.

For seniors aged 65 to 74, the maximum monthly OAS payment will now be up to $718.33. Those aged 75 and older will receive a maximum monthly payment of $790.16. These adjustments are crucial as retirement becomes increasingly unaffordable for many Canadians.

In addition to the OAS pension, eligible seniors and their partners may also qualify for extra benefits such as the Guaranteed Income Supplement (GIS), Allowance, and the Allowance for the Survivor. For single, widowed, or divorced Canadians aged 65 or older with an annual net income of less than $21,768, the maximum GIS payment per month is set at $1,072.93.

These increases aim to provide better financial support to seniors, ensuring they can maintain a decent standard of living during their retirement years.


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