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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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Liberals Brace for Tight Confidence Vote on Federal Budget

Finance Minister François-Philippe Champagne is applauded by members of the Liberal party as he delivers the federal budget speech in the House of Commons on Parliament Hill in Ottawa, Tuesday, Nov. 4, 2025. 

The federal Liberal government is heading into a crucial confidence vote on its budget, anticipating a razor-thin margin of victory. With opposition parties divided, the outcome will determine whether the government can continue to govern or face the prospect of an election.

Party insiders suggest that negotiations with smaller parties have been tense, but enough support has likely been secured to push the budget through. The vote is expected to highlight deep partisan divisions in Parliament, with critics arguing the budget fails to adequately address affordability and healthcare, while supporters emphasize investments in green energy and housing.

A narrow win would allow the Liberals to move forward with their fiscal plan, but the close result underscores the fragile balance of power in Ottawa and the challenges the government faces in maintaining stability.


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