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The Mortgage Renewal Wave Just Peaked — Here's What the Data Actually Shows

Published August 30, 2026 For three years, "the mortgage renewal wall" has been the scariest phrase in Canadian personal finance — the idea that a flood of ultra-cheap, pandemic-era mortgages would come due at much higher rates and trigger a wave of forced sales. That wall is now mostly behind us. Two new 2026 surveys, one from Royal LePage and one from Rates.ca, show what actually happened when it hit. The short version: it hurt, budgets tightened hard for a lot of people, but the mass default many feared simply didn't show up. The last big group is renewing right now Royal LePage's 2026 Mortgage Renewal Survey, released August 19 and based on a Leger poll of 1,127 Canadians renewing this year, pins down where things stand: about 12% of all outstanding Canadian mortgages are five-year, fixed-payment loans taken out during the 2020–2022 ultra-low-rate window, and this is their last major renewal wave. The Bank of Canada's overnight rate sat at just 0.25% through m...
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Drone Strike Hits Aid Ship Bound for Gaza, Raising Humanitarian Concerns


A vessel carrying humanitarian aid to Gaza was struck by drones while navigating international waters off Malta early Friday, according to the Freedom Flotilla Coalition, the group organizing the shipment. The attack caused a fire onboard, which was later brought under control, but the ship remains at risk of sinking due to damage sustained in the strike.

The ship, named *Conscience*, was carrying 30 international human rights activists alongside aid supplies intended for Gaza. The coalition reported that the drone strike appeared to have specifically targeted the ship’s generator, leaving it without power and causing a breach in the hull. The vessel issued an SOS distress call, prompting Cyprus to dispatch a rescue vessel to assist.

The incident comes amid heightened tensions surrounding humanitarian aid access to Gaza, where the ongoing conflict has led to severe shortages of food, medicine, and other essential supplies. The Freedom Flotilla Coalition has long campaigned against Israel’s blockade of Gaza, with previous attempts to deliver aid by sea facing similar interventions.

Authorities have yet to confirm who was responsible for the drone attack, and there were no immediate reports of casualties. The Israeli military has not responded to requests for comment regarding the incident. 

The strike has intensified concerns over the safety of humanitarian missions attempting to reach Gaza, as aid groups warn that the humanitarian response in the region is on the verge of collapse. 


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