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  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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Beef Tenderloin with Red Wine Sauce

 


A classic and elegant dish, Beef Tenderloin with Red Wine Sauce is perfect for special occasions or holiday gatherings. 

Ingredients

For the Beef:

  • 2 lbs beef tenderloin, trimmed and tied
  • 2 tbsp olive oil
  • 2 tsp kosher salt
  • 1 tsp freshly ground black pepper

For the Red Wine Sauce:

  • 2 cups dry red wine
  • 2 cups beef stock
  • 2 shallots, finely chopped
  • 2 garlic cloves, minced
  • 2 sprigs fresh thyme
  • 1 tbsp butter
  • 1 tbsp flour

Instructions

  1. Prepare the Beef:

    • Preheat the oven to 400°F (200°C).
    • Rub the beef tenderloin with olive oil, salt, and pepper.
    • Heat a skillet over medium-high heat and sear the tenderloin on all sides until browned. Transfer to a baking dish.
  2. Roast the Beef:

    • Roast in the oven until the internal temperature reaches 125°F (52°C) for medium-rare, about 25-30 minutes. Let it rest for 10 minutes before slicing.
  3. Make the Sauce:

    • In the same skillet, sauté shallots and garlic in a bit of oil until softened. Add red wine, scraping up browned bits from the pan.
    • Stir in beef stock and thyme. Simmer until reduced by half.
    • Mix butter and flour to form a paste, then whisk into the sauce. Simmer until thickened.
  4. Serve:

    • Slice the beef tenderloin and serve with red wine sauce drizzled on top.

This dish pairs beautifully with mashed potatoes or roasted vegetables.


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