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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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Ontario Colleges on Edge as Faculty Strike Looms

Faculty staff at Ontario’s public colleges are poised to take strike action as early as January 9th, following a five-day labour notice issued by the Ontario Public Service Employees Union (OPSEU). The union, representing faculty workers at the province’s 24 public colleges, has cited stalled contract talks and lack of job security as the primary reasons for the potential strike.

Despite months of negotiations, the College Employer Council (CEC) and OPSEU have yet to reach an agreement. The union claims that the CEC’s current offer would leave faculty members worse off than their previous contract, which expired three months ago. The CEC, on the other hand, argues that the union’s demands are unrealistic given the financial instability faced by Ontario’s colleges.

The potential strike comes at a challenging time for Ontario’s college sector, which has already seen a significant drop in international student enrollment and funding cuts. The union is urging the CEC to enter mediation with more realistic demands to avoid an unnecessary strike.

As the situation unfolds, both parties remain committed to finding a resolution, but the looming strike date adds urgency to the negotiations.




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