Market Watch
The Bank of Canada held its target overnight rate steady over its past two announcements, most recently on January 28, 2026. The Bank continues to balance a slowing economy affected by tariff and trade challenges—particularly with the U.S.—against ongoing inflationary pressures tied to rising costs for certain goods and services. The next Bank of Canada interest rate announcement is scheduled for March 18.
According to the Consumer Price Index, inflation rose 2.4% yearover-
year in December 2025, up from 2.2% in November. This increase was largely driven by higher costs for restaurant meals and toys, hobbies, and certain games. It was also influenced by the expiration of the federal government's temporary GST/HST tax break, while lower gasoline prices helped moderate overall price growth.¹
Canada's unemployment rate rose to 6.8% in December from 6.5% in November as more people entered the job market. Canadians aged 55 and over saw the strongest gains, adding 33,000 jobs, while youth aged 15 to 24 experienced the largest decline, with 27,000 fewer jobs. Healthcare and social assistance led job gains, while professional, scientific, and technical services saw the largest losses.²
In the Spotlight – Your Mortgage Renewal — Make your Next term Work for You
If your mortgage is coming up for renewal, you may be feeling uncertain about what comes next. Many homeowners are in the same position—renewing at higher rates after the unusually low COVID era terms. While that shift can feel overwhelming, a renewal can also be a powerful opportunity to reassess your needs and choose a mortgage that supports your goals.
Quick Fact
In 2026, approximately 1.15 million Canadian mortgages are set to renew. Numerous mortgage holders are experiencing payment increases ranging from 15% to 20%, with some facing instances where payments have doubled or even tripled.*
Supporting the Next Generation on their path to Homeownership
For many families, an especially meaningful part of financial planning is helping children or grandchildren take their first steps toward homeownership.
- Start with open conversations
- Consider the role of investing
- Explore different ways to help
- Protect your own financial well-being
Steps to Consider When Retirement Planning
Planning for tomorrow starts with a clear picture of the life you want to enjoy — and the confidence that your finances can support it.
- Start with your timeline
- Plan for rising costs
- Understand your income needs
- Make the most of registered plans
- Check in regularly
