7.28% Mortgage Shock This Week: US Rates Spike, Canada Renewals Hit

Same week: the U.S. 30-year mortgage rate hit a cycle-high 7.28%, and Canada's central bank admitted 12% of mortgages are renewing at higher payments, with no fix coming. 0:00 Hook 0:42 The US Shock 1:51 The Canada Shock 3:14 Why Two Countries, Two Realities 4:17 What It Costs You 5:33 The Fix 6:55 Bottom Line Household numbers in this video are estimates. U.S. estimate assumes a $350,000, 30-year fixed loan, principal and interest only. Canadian estimate assumes a $2,000/month starting payment and the Bank of Canada's own reported 15% average renewal increase. Your real numbers depend on your own loan balance, rate and term. Sources: Freddie Mac, Primary Mortgage Market Survey: https://www.freddiemac.com/pmms Bank of Canada, Financial Stability Report 2026, Households: https://www.bankofcanada.ca/publicati... Bank of Canada speech, "The complexity of housing affordability" (Carolyn Rogers, Oct 1, 2026): https://www.bankofcanada.ca/2026/10/c... Big Six bank rate tracking: https://wowa.ca/banks-mortgage-rates RBC mortgage rates: https://www.rbcroyalbank.com/mortgage... Rate hold practices: https://rates.ca/guides/mortgage/rate... This video is news and general information, not financial advice. Visuals and voice are AI-generated; all facts are researched and sourced. #MortgageRates #Canada #USHousing