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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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Israel Orders Evacuation of Gaza Humanitarian Zone Amid Ongoing Conflict

 

The Israeli military has ordered the evacuation of part of the Gaza Strip’s humanitarian zone, citing the presence of Hamas militants who have embedded themselves in the area. This zone, located in the southern Gaza Strip, has been a refuge for many Palestinians displaced by the ongoing conflict.

The evacuation order affects the eastern part of the al-Muwasi humanitarian zone. The Israeli military stated that Hamas militants have been using this area to launch rockets towards Israel, necessitating the evacuation to ensure civilian safety and to target the militants more effectively.

The humanitarian situation in Gaza remains dire, with many residents living in makeshift camps lacking basic sanitation and medical facilities. The conflict has resulted in significant casualties and displacement, with over 38,900 people reported dead since the war began.

Negotiations for a cease-fire continue, with efforts from Egypt, Qatar, and the United States to mediate a phased agreement between Israel and Hamas. Despite these efforts, the humanitarian crisis in Gaza persists, exacerbated by the ongoing military operations and the deteriorating living conditions for its residents.

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