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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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US Stocks Slip, Bond Yields Rise as Rate-Cut Bets Cool



US stocks slid on Wednesday as bond yields rose, as optimism for fast interest-rate cuts waned ahead of fresh jobs data and the release of Federal Reserve meeting minutes.

The Dow Jones Industrial Average (DJI) fell 0.3% while the benchmark S&P 500 (GSPC) slipped about 0.5%. The Nasdaq Composite (IXIC) dropped roughly 0.7% after a bruising session that saw tech stocks shed almost 1.6%.

Hopes that the year-end market rally would roll on into 2024 took a battering on Tuesday as stock indexes and bond prices sank in tandem for their worst start to a year in decades. Bonds are headed lower for a fourth day, pushing the 10-year Treasury yield (TNX) up near 4%.

Traders have started pulling back on bets on Fed interest-rate cuts, with 74% now pricing in a March pivot, compared with 89% a week ago, per the CME FedWatch Tool.

Minutes of the Fed’s December meeting due later could give a window into how near officials think they are to easing up on tightening, so they can nail a “soft landing” for the economy.

Eyes will also be on the JOLTS report on job openings, given the unexpected resilience of the labor market has fed into expectations of a Fed shift. Wednesday’s data will set expectations for the December US monthly jobs report coming Friday.

After a rough first day of trading, investor attention on Wednesday will turn to the labor market with the monthly update on job openings and turnover — known as the JOLTS report — set for release at 10:00 a.m. ET.

A decline in job openings throughout 2023 served as an early indicator the US labor market was slowing, and Wednesday’s data will serve as a key table-setter ahead of Friday’s December jobs report.


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