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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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Trump's 'Liberation Day': A New Chapter in Global Trade Tensions

The global economy braces for impact as former President Donald Trump prepares to unveil his much-anticipated "Liberation Day" tariffs. This announcement, set for April 2, promises to reshape international trade dynamics with sweeping measures aimed at addressing what Trump describes as "decades of unfair trade practices." 

While the specifics remain unclear, the tariffs are expected to target countries with significant trade imbalances with the United States. Critics warn that this move could escalate into a full-blown trade war, with nations like China, Canada, and the European Union likely to retaliate. Economists predict that these measures could disrupt supply chains, increase consumer prices, and create uncertainty for businesses worldwide.

Trump's administration argues that these tariffs are necessary to restore American manufacturing and economic sovereignty. However, the lack of clarity surrounding the policy has left markets jittery, with businesses and governments alike scrambling to prepare for the potential fallout.

As the world awaits the official announcement, one thing is certain: "Liberation Day" marks a pivotal moment in the ongoing debate over globalization and economic nationalism. Whether it will lead to liberation or further entanglement in trade disputes remains to be seen.

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