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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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Los Angeles Wildfires Rage On: Death Toll Rises to 24 as Santa Ana Winds Return




The devastating wildfires that have been ravaging Southern California for the past week have claimed at least 24 lives, with officials warning of a "particularly dangerous situation" as the Santa Ana winds return to the region.

Three large fires continue to burn in Los Angeles County: the Palisades Fire, which has burned 23,713 acres and is 13% contained the Eaton Fire, which has scorched more than 14,100 acres and is 27% contained; and the Hurst Fire, which has burned 799 acres and is 95% contained.

The National Weather Service has issued a rare warning, forecasting that parts of Los Angeles and Ventura counties will be in a "particularly dangerous situation" starting Tuesday at 4 a.m. local time. "Do NOT do anything that could spark a fire," the NWS said in the advisory. "Peak winds for this next event will be weaker than those last week. Nevertheless, winds will be strong enough to potentially cause explosive fire growth."

Los Angeles Fire Chief Kristin Crowley urged people to stay away from neighborhoods that are still seeing flames. "There are still active fires that are burning within the Palisades area, making it extremely, extremely dangerous for the public," she said.

The Walt Disney Company has committed $15 million to immediate response teams helping out in the Los Angeles area, including the American Red Cross, the Los Angeles Fire Department Foundation, and the Los Angeles Regional Food Bank.

As the fires continue to burn, the IRS has announced tax relief for individuals and businesses affected by the wildfires, extending the tax filing deadline to October 15.

The situation remains critical, and residents are urged to stay vigilant and follow all safety instructions from local authorities.



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