|10 min read|Mortgages
Fixed vs. Variable Mortgage Rates in Canada: 25 Years of Data
We pulled 25 years of Bank of Canada overnight rate data to settle the fixed vs. variable debate. The answer isn't what most people think.
TL;DR
Variable rates have been cheaper than fixed rates about 80% of the time over the last 25 years. But "cheaper on average" doesn't mean "always the right call." The real question isn't which rate is lower, it's whether you can stomach the swings. We break down the data, the two brutal exceptions, and a framework for deciding.