Here is an interesting site (http://www.canadianmortgagetrends.com/) that discusses how completely unfair banks are to those of us seeking mortgage deals.  Something I've been struggling through lately, renewing my mortgage.  While variable mortgages are linked to banks' prime interest rates (which may or may not follow Bank of Canada's prime rate), fixed mortgages are linked to the bond market.  This site includes a graph of bond rates and fixed mortgage rates.  Wow!