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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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Washington Will Feel Like 107°F as Heat Grips US: Weather Watch

 

The relentless heatwave continues to affect large portions of the US, with cities and towns across the East Coast, Midwest, and lower Mississippi River valley experiencing sweltering temperatures. 

Washington, D.C., is forecasted to reach 100°F (37.8°C) on Monday, but the heat index—factoring in humidity—will make it feel closer to 107°F. Similarly, Philadelphia will hit 97°F on Monday and 100°F on Tuesday, with humidity intensifying the heat. Central Park in New York City is expected to reach 95°F, feeling like 99°F due to humidity. Chicago will also be hot, with temperatures rising to 93°F but feeling like 102°F.

In addition to discomfort, this extreme heat can impact transportation, cause airline delays, and increase energy consumption. Across the US, 25 weather stations have the chance to break records, including Ronald Reagan Washington National Airport in Virginia. Meanwhile, the West faces the risk of dry lightning, which could escalate wildfire danger in Northern California, southern Oregon, Nevada, Idaho, Wyoming, and Utah.

Stay hydrated and take precautions during this scorching weather!


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