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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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Dollarama's Expansion: New Opportunities and Employee Rights in Ontario

 

Dollarama is set to significantly expand its presence in Canada, aiming to open hundreds of new stores over the next decade. This ambitious plan is expected to create numerous employment opportunities across the country, particularly in Ontario. However, as the company grows, it's crucial for potential employees to be aware of their rights under Ontario's Employment Standards Act (ESA).


Here are three key rights that non-unionized workers should know:

1. No Rush to Sign Employment Contracts: Employees are not required to sign an employment contract immediately upon receiving a job offer. It's advisable to consult with an employment lawyer to ensure that the contract protects your rights.

2. Severance Pay During Probation: Even if you're fired during a probationary period, you might still be entitled to severance pay. The presence of a "probation clause" in your contract does not necessarily negate this right.

3. Inducement and Severance Entitlements: If you're recruited from another job and then terminated shortly after, you may be entitled to additional severance pay due to the inducement.

As Dollarama continues its expansion, understanding these rights can help employees navigate their employment journey with confidence and security.




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