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Mortgage Renewal Shock 2026: What Canadian Homeowners Need to Know

  The Reality: Over 60% of Canadian mortgages are renewing in 2025 and 2026—many at rates significantly higher than their original terms. While some homeowners will see relief, others face payment increases of 15–40%. This guide will help you understand what's happening, run the numbers, and explore your options before your renewal date arrives. The Big Picture: What's Happening in 2026 Canada is experiencing a historic wave of mortgage renewals. A large cohort of mortgages originated during the pandemic's historic low-rate period—when rates hovered around 2% or lower in 2020–2021—are now maturing and resetting at today's rates. The Bank of Canada staff estimate that roughly 60% of outstanding mortgages will renew in 2025 and 2026, making this the most significant renewal cycle in decades. In 2026, the average mortgage renewal increase is projected to moderate to around 6%, though individual experiences vary dramatically depending on mortgage type and renewal timing. W...
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Gaza Militants Fire Rockets Into Israel Amid Escalating Conflict

In a tense escalation of the ongoing conflict, Gaza militants from the Palestinian Islamic Jihad group launched a barrage of rockets into Israel on Monday. This move came as Israeli tanks continued their advance deeper into Gaza, intensifying the fighting in the region.

The armed wing of Islamic Jihad, an Iranian-backed ally of Hamas, stated that the rocket attacks were in response to “the crimes of the Zionist enemy against our Palestinian people.” Fortunately, the volley of approximately 20 rockets caused no casualties, according to the Israeli military.

Despite Israel’s offensive aimed at neutralizing threats, militants in some parts of Gaza persistently target Israeli forces in areas previously vacated by the army. On Monday, Israeli tanks extended their incursions into the Shejaia suburb in eastern Gaza City for a fifth consecutive day. Additionally, tanks advanced further in western and central Rafah, near the border with Egypt.

As the conflict continues, casualties mount, and the heavily built-up coastal enclave lies in ruins, the situation remains highly volatile. Israel has signaled that its operation in Rafah, meant to suppress Hamas, will soon conclude. After this intense phase of the war, Israeli forces plan to focus on smaller-scale operations to prevent Hamas from reassembling.

The conflict began when Hamas-led fighters infiltrated southern Israel in October, resulting in significant loss of life and hostages taken back into Gaza. Israel’s counteroffensive has been devastating, with both combatants and civilians affected. The situation remains precarious, and international attention remains fixed on the region as tensions persist.


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