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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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Ruby Dhalla Disqualified from Liberal Leadership Race Amid Serious Allegations

 

In a dramatic turn of events, former Member of Parliament Ruby Dhalla has been disqualified from the Liberal leadership race following allegations of multiple rule violations. The Liberal Party of Canada announced the decision on Friday, citing "extremely serious" breaches of the party's leadership and expense rules.

According to Azam Ishmael, the party's national director, Dhalla was found to have committed ten violations, including inaccurate financial reporting and non-disclosure of material facts. The party's leadership vote committee conducted an extensive review process, which included interviews, questionnaires, and an opportunity for Dhalla to address the committees directly.

The allegations against Dhalla also include potential violations of the Canada Elections Act and concerns about foreign interference in her campaign. Dhalla has vehemently denied the accusations, calling them "fabricated, fictitious, and fake". She claims that the disqualification is an attempt to ensure the victory of front-runner Mark Carney.

Dhalla's disqualification comes just days before the party's leadership debates and after she had successfully paid the full amount of $350,000 to stay in the race. With her exit, the remaining contenders for the Liberal leadership are Mark Carney, Chrystia Freeland, Karina Gould, and Frank Baylis.

The decision has sparked controversy and debate within the party, with Dhalla asserting that the allegations are an attack on her ethnic origin and immigrant background. She has indicated that she will not allow her campaign to be tarnished by what she describes as baseless accusations.

As the Liberal Party moves forward with the leadership race, the disqualification of Ruby Dhalla serves as a stark reminder of the high stakes and intense scrutiny involved in the political arena.



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