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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 Premier Doug Ford Calls Snap Election for February 27

Ontario Premier Doug Ford is set to call a snap election next week, sending voters to the polls on February 27. This unexpected move comes as Ford seeks a fresh mandate to address the looming threat of tariffs from the United States under President Donald Trump. The provincial election, originally scheduled for June 2026, has been advanced as Ford emphasizes the need for a "strong mandate" to protect Ontario's economy and jobs.

Ford's decision has sparked criticism from opposition leaders, who accuse him of prioritizing his political career over the province's stability. Ontario Liberal leader Bonnie Crombie expressed her disapproval, stating that Ford has chosen "recklessness over responsibility". Despite the controversy, recent polls indicate that Ford's Progressive Conservative Party holds a significant lead, with 46% of respondents supporting the Conservatives.

The upcoming election will be the first mid-winter election in Ontario since 1981. As the province braces for this unexpected political event, all eyes will be on Ford's announcement next week and the subsequent campaign trail.

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