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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 in Richmond Hill: Toddler Dead, Multiple Injured After SUV Crashes Into Daycare

 

Police and fire crews work to remove a vehicle from First Roots Early Education Academy after it was driven through the daycare's window in Richmond Hill, Ont., on Wednesday.


A devastating incident unfolded in Richmond Hill, Ontario, on Wednesday afternoon when an SUV plowed through the front window of the First Roots Early Education Academy, killing a one-and-a-half-year-old boy and injuring six other children.

York Regional Police say the driver, a man in his 70s, was arrested at the scene and is now facing charges of dangerous operation causing death and dangerous operation causing bodily harm. Three adult staff members were also hurt in the crash.

Authorities believe the collision was not intentional. According to police, the SUV was in the daycare’s parking lot before, for reasons still under investigation, it accelerated into the building during afternoon pickup time.

Two of the injured children remain in critical condition, while others are recovering from non-life-threatening injuries. The tragedy has left the community in shock, with local leaders and residents expressing deep sorrow and support for the affected families.

The daycare has issued a statement saying it is “heartbroken and deeply saddened” by the loss, as investigators continue to piece together the events that led to the crash.


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