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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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Carney Urges Calm as Trump Escalates Tariff Dispute with Canada

                                           Canada Prime Minister Mark Carney

Canadian Prime Minister Mark Carney sought to reassure Canadians after U.S. President Donald Trump announced a 10% hike on tariffs targeting Canadian imports. The move, triggered by a controversial Ontario government advertisement aired during the World Series, has reignited trade tensions between Ottawa and Washington.

Carney, speaking while on a trip to Asia, emphasized that Canada “will not be bullied” and highlighted his government’s strategy to diversify trade partnerships, particularly with Asian markets.He underscored that Ottawa remains open to dialogue with Washington but will continue to protect Canadian workers and industries.

The tariff escalation comes at a sensitive moment, as both countries had been negotiating to ease earlier trade restrictions. Trump’s decision, described as retaliation for what he called a “hostile act,” has raised concerns of a renewed trade wa.

Carney’s message to Canadians was one of resilience: while acknowledging the economic risks, he stressed that Canada’s long-term strategy of broadening its trade horizons would help cushion the impact of U.S. protectionist measures.


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