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Fixed vs. Variable Mortgages in Canada: Which Should You Choose Right Now?

  Mortgages | Personal Finance | June 2026 Variable rates sit at 3.30% while fixed rates have climbed above 4%. The Bank of Canada is frozen between inflation and recession. Here's what that means for your mortgage decision today. By MoneySavings.ca Staff  |   June 26, 2026 📊 Today's Best Mortgage Rates — June 26, 2026 Type Term Lowest Rate (Broker) Big Bank Range Variable 5-Year ~3.30% ~3.50–4.00% Fixed (Insured) 5-Year ~4.04% ~4.50–5.20% Fixed (Conventional) 5-Year ~3.94% Higher Bank of Canada Policy Rate 2.25%  |  Prime Rate: 4.45% Sources: NerdWallet Canada, Ratehub.ca, WOWA.ca, bestrates.ca. Rates as of June 26, 2026. Broker rates require qualification; Big Bank rates are estimates. Your actual rate depends on your credit score, down payment, and mortgage type. If you're buying a home, renewing a mortgage, or simply trying to make sense of an unusually complex rate environment, you've arrived at the right question at a complicated moment. The Canadian...
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Tips for building your 2024 investment plan


As we enter the new year, it’s a good time to reevaluate your investment strategies and prepare for the evolving market conditions. Here are some tips to help you build a successful investment plan for 2024:

  • Reevaluate your investment strategies: Experts suggest that now is a good time to reevaluate your investment strategies and prepare for the evolving market conditions. Although Bank of Canada Governor Tiff Macklem has said it is too early to consider rate cuts, the central bank could begin cutting interest rates as early as April or May, according to forecasts from TD. Falling interest rates will be the story of 2024, so it’s important to invest accordingly.
  • Consider low-cost dividend-focused index funds: Investing in low-cost dividend-focused index funds can help you generate passive income at a low cost for life.
  • Be cautious with GICs: Last year, many investors chose to park money in savings or a short-term Guaranteed Investment Certificate (GIC), earning risk-free returns of 5 per cent or more. Although it was an effective strategy in a high-interest-rate environment, GIC rates are already falling, and completely opposite market forces are starting to take shape. Canadians looking to simply protect their cash in 2024 could be in for a “rough year,” potentially missing out on greater gains elsewhere.
  • Prepare for the evolving market conditions: With the market conditions evolving, it’s important to prepare for the changes. Falling interest rates will be the story of 2024, so it’s important to invest accordingly.


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