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Rate Watch: Best GIC, Savings and Mortgage Rates in Canada (Nov 13, 2026)

  Rate Watch | Canadian Money Brief Best GIC, Savings and Mortgage Rates in Canada Today Friday, November 13, 2026 • Bank of Canada rate 2.50% • Prime 4.70% The Bank of Canada raised its policy rate to 2.50% on October 28. Savers saw very little of it: GIC rates barely moved, and big-bank savings accounts still pay next to nothing. Borrowers saw more of it: the lowest 5-year fixed mortgage rate crept up from 4.34% to 4.44% after bond yields jumped. Here is where the best rates sit today. 4.05% Best 1-yr GIC WealthONE 4.55% Best 5-yr GIC WealthONE 2.85% Top HISA (no promo) WealthONE / Saven 4.44% Lowest 5-yr fixed insured mortgage 3.60%+ Lowest 5-yr variable insured mortgage Best GIC Rates Term Best rate Provider Runner-up 1 year 4.05% WealthONE Bank of Canada Achieva Financial 3.95% 2 years 4.30% WealthONE Bank of Canada Achieva Financial 4.10% 3 years 4.40% WealthONE Bank of Canada MCAN, Oaken, Saven 4.30% 5 years 4.55% WealthONE Bank of Canada Oaken Financial 4.50% Big banks, 1 y...
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Temporary GST Breaks: What's Covered and What's Not


Starting December 14, 2024, and lasting until February 15, 2025, the Canadian government has introduced temporary GST/HST breaks on a variety of essential items. This tax relief aims to provide financial relief to Canadians during the holiday season.


What's Included:

  •  Food and Beverages: All groceries, restaurant meals, and drinks will be exempt from GST/HST.
  • Children's Items: Clothing, footwear, diapers, car seats, toys, and jigsaw puzzles for all ages will also benefit from the tax break.
  • Books and Newspapers:  Printed books and newspapers are included in the relief.
  • Holiday Decorations: Christmas trees and similar decorative items are also covered.
  • Video Game Consoles and Games: Physical video game consoles, controllers, and games qualify for the tax break.


What's Not Included:

  • Luxury Items: High-end electronics, jewelry, and luxury clothing are not covered by the GST/HST break.
  • Alcoholic Beverages: While regular beverages are included, alcoholic drinks are excluded from the tax relief.
  • Non-Essential Toys and Games: Items not specifically listed under children's toys or educational games do not qualify.
  • Sports Equipment: Items used exclusively for sports or recreational activities are not included.


This temporary tax break is designed to make essential goods more affordable and provide some financial relief during the holiday season. Make sure to take advantage of these savings while they last!





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