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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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Tariff Shock Ripples: TSX Futures Plunge as Global Markets Sell Off


TSX futures joined a broader global selloff on Monday after U.S. President Donald Trump announced new tariffs on imports from Canada, Mexico, and China, set to take effect Tuesday. The measures include a 25% levy on most Canadian goods—with energy products facing a lower 10% rate—and have spurred widespread investor anxiety about the potential for a full-blown trade war.

Early trading saw March futures on the S&P/TSX index drop by about 1.3%, as markets reacted swiftly to the news. The tariffs have unsettled investors, prompting a flight to safer assets such as the U.S. dollar and U.S. Treasuries, while equity positions were pared off amid fears that the tariffs could lead to higher inflation and slower economic growth. Global indices from Europe to Asia have also been pressured, with significant selloffs in major markets.

In response to Trump’s announcement, Canadian Prime Minister Justin Trudeau has vowed swift retaliatory measures, unveiling plans for tariffs on roughly C$155 billion worth of U.S. goods. The escalation in trade tensions is likely to disrupt supply chains further, affecting sectors from automotive to energy, and could even pave the way for prolonged economic uncertainty.

Amid the turmoil, some corporate activity continues to move forward. For example, Brookfield Asset Management recently completed a $1.7 billion acquisition in the electric heat trace systems sector—a sign that while markets are volatile, business fundamentals continue to drive major transactions.

As investors digest the unfolding trade conflict, many caution that further tariff escalations could lead to a cascade of economic challenges, including increased consumer prices and potential recessions in affected regions.

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