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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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Gingerbread Cookies

 

These cookies are festive, warmly spiced, and perfect for decorating with icing and candies.

Ingredients (makes ~45 cookies)

  • 1 ½ sticks (12 tbsp) unsalted butter, softened
  • ¼ cup + 2 tbsp packed dark brown sugar
  • ¼ cup + 2 tbsp granulated sugar
  • 6 tbsp unsulphured molasses (e.g., Grandma’s Original)
  • 1 large egg
  • 2 ¾ cups all-purpose flour (spooned & leveled)
  • 2 tsp ground ginger
  • 1 tsp ground cinnamon
  • ½ tsp ground allspice
  • ¼ tsp ground cloves
  • ⅛ tsp freshly ground black pepper
  • 2 tsp baking soda
  • Heaping ¼ tsp salt
  • Royal icing or store-bought icing (for decorating) Punchfork

 Instructions

  1. Cream butter & sugars: Beat butter, brown sugar, and granulated sugar until light and fluffy.
  2. Add wet ingredients: Mix in molasses and egg until smooth.
  3. Combine dry ingredients: Whisk flour, spices, baking soda, and salt separately.
  4. Form dough: Gradually add dry mixture to wet until combined.
  5. Chill dough: Wrap and refrigerate for at least 1 hour (important for rolling).
  6. Roll & cut: Roll dough to about ⅛-inch thickness; cut with cookie cutters.
  7. Bake: Place on parchment-lined sheets and bake at 350°F for 8–10 minutes until edges are set.
  8. Cool & decorate: Let cookies cool completely before icing and decorating.

 Tips for Best Results

  • Chill thoroughly: Prevents spreading and makes dough easier to handle.
  • Spice balance: The black pepper adds a subtle kick—don’t skip it!
  • Storage: Keep in an airtight container for up to 4 days, or freeze undecorated cookies for longer.
  • Decorating fun: Use royal icing for crisp designs or sprinkles/candies for festive flair.


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