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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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Canada Reframes Ties with China as Strategic Partnership

Foreign Affairs Minister Anita Anand rises during Question Period on Parliament Hill in Ottawa, Thursday, Oct. 9, 2025. 



Canada is shifting its diplomatic stance toward China, with Foreign Affairs Minister Anita Anand declaring that the two countries are now engaged in a “strategic partnership”.

The announcement marks a notable change from just three years ago, when Ottawa labeled Beijing a “disruptive global power.” Anand emphasized that the new approach is not about ignoring challenges, but about ensuring dialogue continues even when disagreements arise.

“It’s necessary for us to lay the foundation, if we are going to find areas where we can further co-operate,” Anand said, stressing that Canada must balance its economic and security interests while addressing issues of concern.

Her remarks followed a series of high-level meetings in Asia, including talks with Chinese officials in Beijing. The discussions touched on trade, energy, health, and environmental cooperation, while also acknowledging ongoing disputes such as tariffs and market access.

The recalibration comes as Prime Minister Mark Carney prepares for his first official trip to Asia, signaling Ottawa’s intent to strengthen its role in the region.


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