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Fixed vs. Variable Mortgages in Canada: Which Should You Choose Right Now?

  Mortgages | Personal Finance | June 2026 Variable rates sit at 3.30% while fixed rates have climbed above 4%. The Bank of Canada is frozen between inflation and recession. Here's what that means for your mortgage decision today. By MoneySavings.ca Staff  |   June 26, 2026 📊 Today's Best Mortgage Rates — June 26, 2026 Type Term Lowest Rate (Broker) Big Bank Range Variable 5-Year ~3.30% ~3.50–4.00% Fixed (Insured) 5-Year ~4.04% ~4.50–5.20% Fixed (Conventional) 5-Year ~3.94% Higher Bank of Canada Policy Rate 2.25%  |  Prime Rate: 4.45% Sources: NerdWallet Canada, Ratehub.ca, WOWA.ca, bestrates.ca. Rates as of June 26, 2026. Broker rates require qualification; Big Bank rates are estimates. Your actual rate depends on your credit score, down payment, and mortgage type. If you're buying a home, renewing a mortgage, or simply trying to make sense of an unusually complex rate environment, you've arrived at the right question at a complicated moment. The Canadian...

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Trump’s Last-Minute Demands Throw Government Funding Plan into Disarray


In a dramatic turn of events, President-elect Donald Trump has rejected a bipartisan plan aimed at preventing a government shutdown just days before the deadline. This unexpected move has left House Speaker Mike Johnson and Republicans scrambling to renegotiate the terms to keep the government operational.

Trump's sudden demands have sent Congress into chaos as lawmakers rush to conclude their work and head home for the holidays. The president-elect's proposal includes a controversial provision to raise the nation’s debt limit, a measure often opposed by his own party.

Democrats have criticized the Republican opposition to the stopgap measure, which was intended to keep federal offices running and provide significant disaster aid. House Democratic Leader Hakeem Jeffries accused Republicans of being instructed to shut down the government, thereby harming working-class Americans.

The bill, already on shaky ground, faced further rejection from hard-right conservatives and Trump’s ally, Elon Musk. Many lawmakers expressed dissatisfaction with the increased spending and other provisions in the 1,500-page bill.

As the deadline looms, the situation underscores the challenges Republicans will face next year as they take control of the House, Senate, and White House. It also highlights the significant influence Trump holds over the party’s legislative agenda.

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