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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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Tragic Midair Collision Near DC: Passenger Jet and Army Helicopter Crash

A devastating midair collision occurred near Ronald Reagan National Airport on Wednesday evening, resulting in a tragic crash into the Potomac River. The incident involved an American Airlines passenger jet, Flight 5342, carrying 60 passengers and four crew members, and a U.S. Army Black Hawk helicopter on a training exercise.

The crash took place around 9 p.m. ET, just over 3 miles south of the White House and the U.S. Capitol. According to the Federal Aviation Administration (FAA), the collision happened moments before the jet was scheduled to land. Air traffic controllers had cleared the jet to land on a shorter runway, and the pilots agreed to the new approach. However, less than 30 seconds before the crash, an air traffic controller asked the helicopter if it had the arriving plane in sight. There was no response, and seconds later, the two aircraft collided.

Emergency response teams launched a massive search-and-rescue operation, deploying inflatable boats and helicopters to search for survivors. Unfortunately, multiple fatalities were reported, though an official death toll has not yet been released. Among the passengers on the jet were Russian figure skaters Evgenia Shishkova and Vadim Naumov, who were returning from the 2025 U.S. Figure Skating Championships in Wichita, Kansas.

The investigation into the crash is ongoing, with authorities focusing on the final moments before the collision and the communication between the aircraft and air traffic controllers. The FAA and the Army have launched a joint investigation to determine the cause of the accident and to prevent similar incidents in the future.

The crash has raised concerns about the congested airspace over Washington, D.C., and the need for improved coordination between civilian and military aircraft. Transportation Secretary Sean Duffy announced that the FAA would review flight paths to ensure adequate separation between different types of aircraft.

As the investigation continues, the nation mourns the loss of lives and hopes for answers that will prevent such tragedies in the future.




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