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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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Frosty Forecast: Shubenacadie Sam Signals Six More Weeks of Winter

 

In a heartwarming winter tradition, Nova Scotia’s beloved groundhog, Shubenacadie Sam, emerged from her burrow on February 2, 2025, at the Shubenacadie Wildlife Park to deliver her annual prediction. The excited crowd—made up of families bundled in their warmest coats—and thousands tuning in online watched as Sam peeked out into the crisp, frosty morning.

According to age-old folklore, if a groundhog sees her shadow, it means an extended winter is on the horizon. This year, Sam’s brief appearance confirmed that chilly forecast, as she was seen with her shadow, signaling six more weeks of wintry weather ahead. A park spokesperson noted that Sam’s prediction, made at 8 a.m. AST, sets the stage as Nova Scotians prepare for more time to enjoy their snow-covered landscapes before the arrival of spring.

Adding to the day’s festivities, the event coincided with World Wetlands Day—an occasion that highlights the importance of local biodiversity and conservation efforts. The wildlife park offered interactive displays and educational activities, underscoring the region’s commitment to preserving its natural heritage while celebrating this enduring cultural ritual.

Whether or not one believes in the weather-predicting powers of a groundhog, Shubenacadie Sam’s annual forecast remains a cherished part of Nova Scotia’s winter traditions, inviting the community to embrace the season’s beauty and prepare for the extra weeks of winter weather ahead.


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