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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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High Stakes Negotiations: Trudeau and Trump to Address Trade War Turmoil

 

In a dramatic escalation of North American trade tensions, President Donald Trump has recently imposed steep new tariffs on Canadian exports, a move that has reignited fears of a full-blown trade war across the continent. The tariffs—which include a 25% levy on a broad range of goods—are aimed at reducing the United States’ trade deficit and curbing illegal immigration and drug trafficking, claims Trump has reiterated in recent statements.

In response, outgoing Canadian Prime Minister Justin Trudeau is scheduled to speak with Trump later today. Trudeau’s office confirmed the call as Canadian leaders scramble to prepare a robust retaliatory strategy that could involve matching tariffs on American goods, a move that Trudeau warned would ultimately drive up prices for U.S. consumers by disrupting key markets such as automobiles, lumber, and energy citeturn0search18. “We know that if the United States is going to see an increase in jobs and growth, it will require more of our essential products,” Trudeau noted, emphasizing that only a minuscule portion of the issues cited by Trump—such as illegal drug flows—originate from Canada .

As both leaders face domestic pressures—Trudeau with a pending leadership transition and Trump with promises of an economic “golden age”—today’s conversation is expected to be a critical test of their ability to navigate complex economic interdependencies and avert long-term damage to one of the world’s most integrated trading relationships. Both sides appear determined to protect their national interests, even if it means higher costs for consumers and potential disruptions in North American supply chains.

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