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The Bank of Canada just made a massive decision to hold the overnight rate at 2.25%, effectively shutting the door on rate relief for the 1.8 million Canadians facing mortgage renewals right now. With 60% of all outstanding mortgages up for renewal in 2025 and 2026, homeowners who locked in pandemic-era rates near 2% are now staring down fixed rates closer to 4%, which could mean payment jumps of $800 or more a month. In this video, we break down exactly why the Bank of Canada stopped cutting rates, why the bond market is keeping fixed rates stubbornly high, and what this historic renewal wave actually means for your wallet. Disclaimer: The information provided in this video is for educational and entertainment purposes only and does not constitute financial, real estate, or professional advice. Interest rates and market conditions change rapidly. Always consult with a licensed mortgage broker or certified financial advisor regarding your specific situation before making any financial decisions.