News of the day: Buying in on Canada, big banks hike fixed rates, financial sector spending promises, household wealth record, early inheritance and more

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Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe big question hanging over the Canada Investment Summit is whether the conditions for investing have changed enough in a country where major projects have often lagged and those that lack scale and do no sufficiently manage risk have at times scared private capital away. Canada’s big banks this week hiked mortgage rates as bond yields continue to rise. Photo by Wikimedia CommonsGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againBig banks, which held out as long as they could, finally had to lift fixed rates to offset soaring funding costs. All told, dozens of lenders across the country boosted fixed rates by roughly 10 to 15 basis points this week. Canada’s largest pension funds have also made similar funding and investment announcements this week. Photo by Peter Power/PostmediaSome of Canada’s biggest financial players this week have promised to deploy billions of dollars in sectors such as defence, energy and artificial intelligence that will likely play a key role in boosting the country’s economy. Their promises come ahead of Prime Minister Mark Carney’s Canada Investment Summit next week that will bring together global investors, Canadian executives and public-sector representatives. Household financial assets, which include stocks, underwent their strongest quarterly gain since the fourth quarter of 2020. Photo by Getty ImagesCanadian household wealth eclipsed the $19 trillion mark for the first time in the second quarter of 2026, driven by the rally in equity markets. Households added $550 billion to their collective wealth, a 2.9 per cent jump from the first quarter of the year, to hit $19.4 trillion, according to Statistics Canada’s latest national balance sheet, released Friday. Paying off your mortgage or using it to help you purchase a new home is a sensible move, expert says. Photo by Getty Images/iStockphotoPaying off your mortgage or using it to help you purchase a new home so you have more space for the kids and a shorter commute is a sensible move, expert says.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.