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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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Trump Picks Pam Bondi for Attorney General as Matt Gaetz Withdraws Amid Scandal

 

Former President Donald Trump has tapped former Florida Attorney General Pam Bondi to serve as his Attorney General in his 2024 presidential campaign’s proposed Cabinet. The announcement comes after Rep. Matt Gaetz withdrew from consideration amid allegations of sexual misconduct, which he has consistently denied.

Bondi, a staunch Trump ally, served as Florida’s Attorney General from 2011 to 2019 and was a prominent figure in Trump’s impeachment defense team in 2020. Known for her conservative stance on legal and social issues, Bondi’s appointment signals a continuation of Trump’s alignment with loyalists in key roles.

Other Key Cabinet Picks

Trump has also outlined several other choices for his potential Cabinet. These include:

  • Mike Pompeo as Secretary of State: Pompeo previously held the position during Trump’s first term, where he spearheaded diplomatic efforts like the Abraham Accords.
  • Larry Kudlow as Treasury Secretary: Kudlow, Trump’s former economic advisor, is a prominent advocate for supply-side economics.
  • Rick Perry as Energy Secretary: Perry, a former Texas governor, held this position during Trump’s earlier administration and remains a proponent of fossil fuel development.

Gaetz, a controversial figure in the Republican Party, withdrew his name after facing renewed scrutiny over past allegations of sexual misconduct. The claims have resurfaced in the wake of Trump’s consideration of him for the Attorney General post, despite Gaetz’s continued denials.

As Trump moves forward with his campaign, his Cabinet selections underline his strategy of leaning on familiar faces and staunch allies to help shape his policy direction.


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