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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 Reiterates 100% Tariffs Threat to Dissuade BRICS Nations from Replacing U.S. Dollar

In a recent statement on Truth Social, President Donald Trump renewed his threat to impose 100% tariffs on BRICS nations if they attempt to replace the U.S. dollar as the global reserve currency. The BRICS alliance, which includes Brazil, Russia, India, China, and South Africa, along with newer members such as Egypt, Ethiopia, Iran, and the United Arab Emirates, has been exploring alternatives to the U.S. dollar in international trade.

Trump's warning comes amid growing frustration among BRICS nations over America's control of the global financial system. He demanded a firm commitment from these countries to cease any attempts to create a new currency or back existing currencies in competition with the U.S. dollar. Failure to comply, he warned, would result in severe consequences, including the imposition of 100% tariffs on goods imported from these countries and the end of their access to the U.S. market.

The U.S. dollar remains the dominant currency in global trade, but members of the BRICS alliance argue that America's control over the financial system is increasingly problematic. Russian President Vladimir Putin has accused the U.S. of "weaponizing" the dollar and has expressed the need for alternatives. The BRICS alliance, established in 2009, aims to challenge the world order dominated by the United States and its Western allies.

Trump's renewed threat underscores the ongoing tensions between the U.S. and the BRICS nations as they seek to assert their economic independence and reduce reliance on the U.S. dollar.


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