Today, Zlatkin pegs the typical variable-rate mortgage between 2.3 per cent and 2.6 per cent, while fixed-rates come in at around 3.89 per cent. The spread, then, is around 1.6 per cent.

For a variable-rate mortgage to exceed the cost of a fixed-rate mortgage, the overnight and prime rates would have to rise by roughly 1.75 percentage points.

Whether fixed or variable, higher mortgage rates means higher loan costs and this is particularly true after the Bank of Canada increased the overnight rate by 1% since the start of 2022. Based on ...

On Wednesday, the central bank increased its key interest rate to 0.50 per cent from a record low of 0.25 per cent. It’s the first rate hike since 2018.

If the Bank of Canada cuts rates five times this year, one expert predicts, variable rates will come out "slightly ahead" in 2024.

Ask an Expert: Affinity Credit Union. In this segment they're helping you navigate the world of fixed and variable rate mortgages #sponsoredcontent ...

Fixed mortgage rates are heading back up, after having remained stubbornly high as variable rates came down. Just a short time ago, insured five-year fixed rates had dipped as low as 3.64%.

On the other hand, if you currently have a variable-rate mortgage and only have one or two years left on your term. It could make sense to ride things out. That’s because you would have already had a ...

Joe’s variable rate is pegged at a discount of 0.6 per cent to the prime rate, a benchmark rate used by lenders. Based on the current prime rate of 3.95 per cent, Joe’s rate is 3.35 per cent ...

The best time to build a strategy for interest rate fluctuations is when they are still low — before the shock of a hike Scott Hannah Published Mar 04, 2019 • Last updated Mar 04, 2019 • 6 ...