{"id":685209,"date":"2026-05-21T23:58:09","date_gmt":"2026-05-21T23:58:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/685209\/"},"modified":"2026-05-21T23:58:09","modified_gmt":"2026-05-21T23:58:09","slug":"the-weeks-best-fixed-and-variable-mortgage-rates-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/685209\/","title":{"rendered":"The week\u2019s best fixed and variable mortgage rates"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

A home for sale in Toronto in December, 2021. Inflation reached 2.8 per cent in April, an increase from 2.4 per cent in March, according to Statistics Canada.Carlos Osorio\/Reuters<\/p>\n

Mortgage rates are facing more upward pressure as inflation continues to rise and bond yields spike. <\/p>\n

Statistics Canada reported this week that inflation reached 2.8 per cent in April, an increase from 2.4 per cent in March and the highest annual inflation rate since May, 2024.<\/p>\n

The increase was largely driven by gas prices, which are surging as a result of constricted oil exports from the Middle East as a result of the war in Iran.<\/p>\n

Energy costs haven\u2019t spilled over into other sectors yet \u2013 grocery inflation actually decreased between March and April \u2013 but economists say inflation could become widespread if the conflict continues. <\/p>\n

That could eventually force the Bank of Canada to hike rates. The BoC is set to make its next rate decision on June 10. Bond swaps markets are largely predicting that rates will remain unchanged next month. However, markets have priced in expectations of one or two quarter-point rate hikes by the end of 2026.<\/p>\n

Meanwhile, the Canada five-year bond rate \u2013 a major driver of fixed mortgage rates \u2013 has been on a wild ride this week. It rose to its highest level in 22 months at 3.39 per cent on Tuesday, and has since settled at 3.2 per cent on Thursday afternoon. <\/p>\n

The current level is still higher than in recent months, and Ratehub\u2019s lowest advertised three-year mortgage rate recently jumped by 10 basis points to 4.19 per cent as of Thursday afternoon.<\/p>\n<\/p>\n

Mortgage rates are sourced by Ratehub.ca. For a comprehensive list of today\u2019s mortgage rates for each term\/type, visit ratehub.ca\/best-mortgage-rates<\/a>.<\/p>\n

Ratehub.ca is a mortgage-rate comparison marketplace and mortgage brokerage. It helps millions of Canadians compare and obtain the best mortgage rates, credit cards, insurance, deposits and loan products.<\/p>\n

Rates shown are the lowest available for each term\/type and category (insured versus uninsured) as of market close on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: A home for sale in Toronto in December, 2021. Inflation reached 2.8 per…\n","protected":false},"author":2,"featured_media":684457,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[1397,45,49,48,46,2741],"class_list":["post-685209","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-appwebview","tag-business","tag-ca","tag-canada","tag-economy","tag-pf-ca"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/685209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=685209"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/685209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/684457"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=685209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=685209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=685209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}