{"id":65392,"date":"2026-05-28T22:36:06","date_gmt":"2026-05-28T22:36:06","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/65392\/"},"modified":"2026-05-28T22:36:06","modified_gmt":"2026-05-28T22:36:06","slug":"the-weeks-best-fixed-and-variable-mortgage-rates","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/65392\/","title":{"rendered":"The week\u2019s best fixed and variable mortgage rates"},"content":{"rendered":"

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

There were 901 single-family home sales in the Toronto region in April, more than triple the number from a year prior.Carlos Osorio\/Reuters<\/p>\n

Wider tax breaks on newly built homes in Ontario are driving sales in Toronto\u2019s beleaguered market, according to new data from Altus Group.<\/p>\n

There were 901 single-family home sales in the Toronto region in April, more than triple the number from the same period a year prior, and 21 per cent higher than the 10-year rolling average. <\/p>\n

\u201cThe market is responding heavily in single family homes at the moment,\u201d said Justin Sherwood, chief operating officer at the Building Industry and Land Development Association, which published the data. BILD is a non-profit lobby group that represents builders, developers and renovators in the Greater Toronto Area. <\/p>\n

Mortgage delinquencies in Ontario and B.C. climbed sharply in first quarter<\/a><\/p>\n

The increase in sales comes as Ontario and the federal government announced that developers could be eligible for up to $130,000 in tax breaks on new builds worth up to $1.5-million. Developers are able to pass savings onto buyers. The rebate came into effect on April 1 and runs through to March 31, 2027.<\/p>\n

The new rebate extends an earlier sales tax break, which was only available to first-time buyers, to everyone.<\/p>\n

However, the tax breaks aren\u2019t enough to revive Toronto\u2019s condo market. <\/p>\n

In April, only 199 condos sold in the Toronto area. That\u2019s a 39-per-cent increase from 143 in the same period last year, and still down 88 per cent from the 10-year rolling average. <\/p>\n

The HST rebate comes as housing markets in major Canadian cities struggle with low demand. Buyers have waited on the sidelines for prices to drop further, and their purchasing power has been dampened by rising mortgage rates since the onset of the pandemic.<\/p>\n

What do you want to know about mortgages?<\/p>\n

\nDo you have a mortgage question for our expert? Is a variable or fixed rate the best option? Does it make financial sense to refinance? Is it better to consult your bank or go to a mortgage broker? <\/p>\n

Submit your questions below and Ratehub’s Penelope Graham could answer it in an upcoming column.<\/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: There were 901 single-family home sales in the Toronto region in April, more…\n","protected":false},"author":2,"featured_media":65393,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[12458,48],"class_list":["post-65392","post","type-post","status-publish","format-standard","has-post-thumbnail","category-toronto","tag-pf-ca","tag-toronto"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/65392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=65392"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/65392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/65393"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=65392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=65392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=65392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}