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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 Faces Potential $100 Million Tax Bill After Alleged Double-Dipping


In a bombshell report by The New York Times, former President Donald Trump is under scrutiny for potentially owing the IRS over $100 million due to questionable tax breaks related to his Chicago skyscraper. Here are the key details:

  1. Double-Dipping Allegations:

    • Trump’s 2008 tax return revealed that he reported losses of up to $651 million on his Chicago tower project. However, the IRS audit now suggests that he may have attempted to write off the same losses twice, leading to the substantial tax liability.
    • The Chicago Tower, completed in 2009, remains a focal point in this investigation.

  2. IRS Audit and Legal Implications:

    • Trump’s tax returns have been a subject of controversy for years. The recent revelations indicate that he has not paid income taxes in 10 out of the past 15 years, primarily due to reported losses.
    • The ongoing decade-long IRS audit centers around a $72.9 million tax refund Trump received, which could ultimately cost him more than $100 million.

  3. Public Perception:

    • The release of Trump’s private tax documents has undermined his image as a successful entrepreneur, revealing heavy losses from his ventures while he continued to benefit from inherited assets.
    • Trump has vehemently denied the accuracy of the New York Times report, calling it “illegal” and suggesting that the journalists behind it should be jailed.

In summary, the potential tax bill represents a significant financial challenge for Trump, and the legal implications remain a matter of intense scrutiny. The double-dipping allegations could have far-reaching consequences for the former president’s financial standing and reputation. 

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