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The Mortgage Renewal Wave Just Peaked — Here's What the Data Actually Shows

Published August 30, 2026 For three years, "the mortgage renewal wall" has been the scariest phrase in Canadian personal finance — the idea that a flood of ultra-cheap, pandemic-era mortgages would come due at much higher rates and trigger a wave of forced sales. That wall is now mostly behind us. Two new 2026 surveys, one from Royal LePage and one from Rates.ca, show what actually happened when it hit. The short version: it hurt, budgets tightened hard for a lot of people, but the mass default many feared simply didn't show up. The last big group is renewing right now Royal LePage's 2026 Mortgage Renewal Survey, released August 19 and based on a Leger poll of 1,127 Canadians renewing this year, pins down where things stand: about 12% of all outstanding Canadian mortgages are five-year, fixed-payment loans taken out during the 2020–2022 ultra-low-rate window, and this is their last major renewal wave. The Bank of Canada's overnight rate sat at just 0.25% through m...
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Trump’s Last-Minute Demands Throw Government Funding Plan into Disarray


In a dramatic turn of events, President-elect Donald Trump has rejected a bipartisan plan aimed at preventing a government shutdown just days before the deadline. This unexpected move has left House Speaker Mike Johnson and Republicans scrambling to renegotiate the terms to keep the government operational.

Trump's sudden demands have sent Congress into chaos as lawmakers rush to conclude their work and head home for the holidays. The president-elect's proposal includes a controversial provision to raise the nation’s debt limit, a measure often opposed by his own party.

Democrats have criticized the Republican opposition to the stopgap measure, which was intended to keep federal offices running and provide significant disaster aid. House Democratic Leader Hakeem Jeffries accused Republicans of being instructed to shut down the government, thereby harming working-class Americans.

The bill, already on shaky ground, faced further rejection from hard-right conservatives and Trump’s ally, Elon Musk. Many lawmakers expressed dissatisfaction with the increased spending and other provisions in the 1,500-page bill.

As the deadline looms, the situation underscores the challenges Republicans will face next year as they take control of the House, Senate, and White House. It also highlights the significant influence Trump holds over the party’s legislative agenda.

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