06/11/2026
Adjustable mortgage rates have historically been lower than fixed = more interest savings. They can be locked into a fixed for a remaining term if the Bank of Canada starts increasing its overnight interest rate again. Knowing this would you take an adjustable interest rate?
What the updated chart suggests
2023 remains the peak pain point for adjustable-rate borrowers, with rates exceeding 6% while many fixed-rate borrowers were still protected by earlier low-rate terms.
2024–2025 shows the crossover period where falling prime rates erased much of the fixed-rate advantage.
2026 YTD shows adjustable mortgages regaining a pricing advantage of roughly 0.3–0.5 percentage points versus discounted 5-year fixed rates. Current market quotes from brokers and lenders generally support this spread.
One caveat: before about 2010, comprehensive "best discounted rate" archives are sparse. A truly rigorous chart would require historical broker databases (e.g., archived rate sheets from Ratehub, MortgageLogic, or lender rate archives). The 2020–2026 section is much more reliable because there is abundant published broker-rate data available.
