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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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Chaos Unleashed: 6,000 Inmates Escape Amid Mozambique's Post-Election Turmoil

In a shocking turn of events, at least 6,000 inmates escaped from Maputo Central Prison in Mozambique on Christmas Day. The mass breakout occurred amid widespread post-election violence and riots following the confirmation of the ruling Frelimo party's victory in the October 9 elections.

The escape began around midday when a group of subversive protesters agitated near the prison, leading to a confrontation with security forces. During the chaos, prisoners managed to snatch weapons from prison warders and began freeing other detainees. The situation escalated further when a wall collapsed, allowing the inmates to flee.

Mozambique's police chief, Bernardino Rafael, reported that 33 prisoners died and 15 others were injured during the confrontation. Among the escapees were 29 convicted terrorists, raising significant concerns for the country's security forces.

Videos circulating on social media show the moment inmates left the prison, with some prisoners attempting to hide in homes, only to be recaptured by military personnel and prison guards. The police chief has called for the voluntary surrender of the escaped prisoners and urged the public to remain vigilant.

The prison break is a stark reminder of the volatile situation in Mozambique, as the country grapples with the aftermath of a contentious election and the ensuing violence.

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