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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 Moves to Dismantle Department of Education: A Controversial Step


In a bold and contentious move, President Donald Trump is set to sign an executive order today to initiate the closure of the U.S. Department of Education. This decision fulfills a long-standing campaign promise and aligns with conservative calls to return education authority to the states.

The executive order directs Education Secretary Linda McMahon to take "all necessary steps" to facilitate the department's closure while ensuring the uninterrupted delivery of essential services and programs. However, dismantling the department entirely would require congressional approval, as it was established by Congress in 1979.

Critics argue that this move could disrupt federal funding for schools and programs that support vulnerable students, including those with disabilities and from low-income families. Advocates for public education have vowed to challenge the decision, emphasizing the department's role in maintaining educational equity.

Supporters of the decision, however, see it as a step toward reducing federal overreach and empowering local communities to make decisions about education. The debate over the department's future is expected to intensify as legal and political challenges unfold.

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