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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 at Garrapata Beach: Calgary Father and Daughter Lost to Ocean Waves

A Calgary father died trying to rescue his young daughter from a large wave on Garrapata State Beach, in California.

A heartbreaking incident unfolded on California’s rugged coastline last Friday, when a Calgary family’s trip to Garrapata State Beach ended in tragedy. Yuji Hu, a 39-year-old father from Calgary, and his young daughter were swept into the Pacific Ocean by a powerful six-metre wave while visiting the beach with his wife and two children.

Authorities say the wave suddenly dragged the girl into the water. Hu and his wife rushed to save her, but both were pulled in by the surf. While Hu’s wife managed to make it back to shore, Hu and his daughter were carried farther out. A beachgoer and an off-duty California park officer pulled Hu from the water and attempted resuscitation, but he later died. The girl’s body was located by divers two days later.

Officials described the waves as 15 to 20 feet high (4.5 to 6 metres) at the time, emphasizing the dangers of the area’s unpredictable surf. California State Lifeguards issued reminders that Garrapata’s coastline is notoriously hazardous, urging visitors to exercise extreme caution.

The tragedy has shaken both the Calgary community and those in Monterey County, California. Local authorities expressed condolences, noting the devastating impact on the family. The incident serves as a sobering reminder of the ocean’s power and the risks posed by rogue waves along the Pacific coast.


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