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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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BRICS Calls for Peace and Reform Amid Global Turmoil

At their latest summit in Rio de Janeiro, BRICS (i.e. intergovernmental organization made up of major emerging economies that aim to reshape global governance and promote cooperation among countries of the Global South) leaders issued a powerful joint statement condemning recent military strikes on Gaza and Iran, while urging sweeping reforms to global governance institutions. The bloc — now expanded to include 10 member nations — emphasized the need for multilateral diplomacy and a more equitable international order.

The declaration denounced the attacks on Iran’s civilian infrastructure and nuclear facilities as violations of international law, and expressed *grave concern* over the humanitarian crisis in Gaza. Leaders called for an immediate and unconditional ceasefire, the withdrawal of Israeli forces from occupied territories, and the release of hostages held in violation of international law.

Brazilian President Luiz Inácio Lula da Silva likened BRICS to the Cold War-era Non-Aligned Movement, positioning the group as a voice for the Global South. “With multilateralism under attack, our autonomy is in check once again,” he said, highlighting the bloc’s growing influence — now representing over half the world’s population and 40% of global economic output.

The summit also renewed calls to reform institutions like the UN Security Council and the International Monetary Fund, arguing that current structures no longer reflect the multipolar reality of the 21st century.

Despite internal differences and geopolitical tensions, BRICS leaders presented a united front in advocating for diplomacy, peace, and a more inclusive global system.

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