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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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Universities Brace for Impact as International Student Cap Takes Effect

 

Canadian colleges and universities are grappling with significant financial challenges following the federal government's decision to cap international student permits. The 35% reduction in study permits, which brought the number down to an estimated 360,000 for 2024, has led to widespread layoffs, hiring freezes, and reductions in services across the post-secondary education sector.

The Council of Ontario Universities, which includes 20 of the province's top institutions, anticipates a combined loss of $330 million this fiscal year and $600 million in the upcoming fiscal year. "We're seeing across-the-board cuts in programming and services, layoffs, hiring freezes, deferred capital investments," said Steve Orsini, president of the council.

In British Columbia, students are experiencing reductions in library hours and services, as well as limited access to academic advisers. "The work that we do is going to continue in terms of advocating for more funding, especially now more than ever," said Jessie Niikoi, chair of the British Columbia Federation of Students.

The cap on international students has also led to the cancellation or delay of several student residence projects. "It's had a profound negative effect on the sector at a time when Ontario universities are facing significant financial challenges," Orsini added.

Immigration Minister Marc Miller defended the cap, stating that the international student system was set up to attract talent to fill key roles in the labor market but had become "overheated." However, he emphasized that addressing the funding challenges facing universities is not the federal government's responsibility.

Despite the financial strain, both the B.C. and Ontario governments have increased funding for post-secondary institutions to help mitigate the impact of the cap.

The loss of tuition revenue from international students, who typically pay significantly higher fees than domestic students, is being compounded by tuition freezes and insufficient operating grants. "Universities really are facing a perfect storm," Orsini said.

As institutions continue to navigate these financial challenges, the focus remains on advocating for more funding and finding ways to sustain quality education and services for all students.




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