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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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13 Budgeting Tips to Supercharge Your Savings


cartoon of man budgeting ai generated

Budget time!


 Budgeting is a crucial skill for managing your finances and saving money. Here are some budgeting tips to help you save money:

1. Create a Budget: Start by making a detailed list of your income and expenses. Be honest and realistic about your spending habits. Allocate a portion of your income for savings.

2. Track Your Spending: Keep track of every expense, no matter how small. Use budgeting apps or spreadsheets to monitor your spending habits. This will help you identify areas where you can cut back.

3. Set Financial Goals: Determine your short-term and long-term financial goals. Whether it's building an emergency fund, paying off debt, or saving for a vacation, having clear goals will motivate you to save.

4. Prioritize Savings: Treat your savings as a non-negotiable expense. As soon as you receive your income, transfer a set amount to your savings account before spending on anything else.

5. Automate Savings: Set up automatic transfers to your savings account on payday. This way, you won't be tempted to spend the money before saving it.

6. Reduce Unnecessary Expenses: Identify areas where you can cut back without sacrificing too much. This might include eating out less, canceling unused subscriptions, or finding more affordable alternatives.

7. Limit Impulse Purchases: Before making a purchase, ask yourself if it's a want or a need. Give yourself a cooling-off period before buying anything expensive on impulse.

8. Use Cash or Debit Cards: Leave your credit cards at home, especially if you tend to overspend with them. Using cash or debit cards makes you more conscious of your spending.

9. Meal Planning: Plan your meals ahead of time and create a shopping list accordingly. This will reduce the chances of buying unnecessary items and help you stick to your budget.

10. Negotiate Bills and Expenses: Contact service providers to negotiate better rates on your internet, cable, or insurance bills. Loyalty doesn't always pay, and many companies are willing to offer discounts to retain customers.

11. Compare Prices: Before making a purchase, compare prices from different stores or online retailers. You may find better deals elsewhere.

12. Avoid High-Interest Debt: High-interest debts, like credit card debt, can quickly eat into your savings. Focus on paying off these debts as quickly as possible to save on interest.

13. Stay Motivated: Saving money requires discipline and determination. Remind yourself of your financial goals regularly and celebrate your achievements along the way.

Remember, budgeting is a dynamic process. It may take time to find the right balance, so be patient with yourself. Over time, you'll develop better financial habits and watch your savings grow.


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