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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's Tariff Man: What Howard Lutnick's Appointment Means for Canada

 

President-elect Donald Trump has appointed Howard Lutnick, a Wall Street heavyweight and co-leader of Trump's transition team, as his Secretary of Commerce and the point man for his tariff and trade agenda. Lutnick's appointment signals a significant shift in U.S. trade policy, with potential major implications for Canada.

Lutnick has publicly shared his views on tariffs, emphasizing that they will not be applied indiscriminately. Instead, he envisions tariffs serving two main purposes: influencing specific industries and acting as a negotiating tool to lower trade barriers with other countries. This approach aims to create a more level playing field for American businesses, particularly in the automotive sector, where Lutnick has highlighted the need for fairer competition with European and Japanese manufacturers.

For Canada, the impact of Trump's tariff plan could be substantial. Estimates suggest that the tariffs could cost Canada's economy anywhere from a half-per cent to five per cent of GDP, depending on their design and implementation. The energy sector, a major Canadian export to the U.S., might see less impact, but the automotive industry could face significant challenges.

As Lutnick takes on his new role, Canadian officials and businesses will be closely monitoring the developments to understand how these changes will affect cross-border trade and the broader economic relationship between the two countries.

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