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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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Tragedy Strikes Vancouver Street Festival: Nine Lives Lost in SUV Incident


A devastating incident unfolded at Vancouver's Lapu Lapu Day Block Party on Saturday evening, leaving nine people dead and multiple others injured. The festival, celebrating Filipino culture, was winding down near East 41st Avenue and Fraser Street when a black SUV plowed into the crowd at high speed.

Eyewitness accounts describe the scene as chaotic, with bodies scattered across the street and bystanders rushing to assist the injured. The driver, a 30-year-old Vancouver man, was restrained by festival-goers until police arrived. Authorities have confirmed that the suspect is known to them and have ruled out terrorism as a motive.

The Lapu Lapu Day Block Party, named after a Filipino resistance fighter, had drawn thousands of attendees throughout the day. The tragedy has left the community in shock, with Vancouver Mayor Ken Sim expressing his condolences and support for the victims and their families.

Investigations are ongoing, and the Vancouver Police Department's Major Crime Section is leading the case. The city mourns the loss of lives and grapples with the aftermath of this horrific event.

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