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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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Tariff Turmoil: Trump’s 25% Hike on Indian Goods Sparks Diplomatic Fallout

 



New Delhi Relations Reach Breaking Point

In a dramatic escalation of trade tensions, U.S. President Donald Trump has signed an executive order imposing an additional 25% tariff on Indian goods, citing India’s continued importation of Russian oil. This move raises the total tariff burden on Indian exports to the U.S. to a staggering 50%, making it one of the highest rates faced by any American trading partner.

The Russia Connection

Trump justified the decision by accusing India of indirectly financing Russia’s war in Ukraine through its energy purchases. “They’re fueling the war machine,” Trump said in a CNBC interview, warning of further penalties if India maintains its current oil trade with Moscow.

India Pushes Back

India’s Ministry of External Affairs condemned the tariffs as “unfair, unjustified and unreasonable,” vowing to take all necessary steps to protect national interests. Officials expressed frustration over the abruptness of the move, especially as trade negotiations were still ongoing.

Economic Fallout

Experts warn the tariffs could slash Indian exports to the U.S. by up to 50%, hitting key sectors like textiles, footwear, and jewelry. Former trade official Ajay Srivastava called the decision “hypocritical,” noting that China imports more Russian oil than India but was not targeted in the same way.

Geopolitical Ripples

The tariff hike not only strains bilateral ties but also undermines India’s role as a strategic counterweight to China in Asia. With Prime Minister Modi reportedly planning a visit to Beijing, the diplomatic landscape may shift further in response to Washington’s aggressive stance.


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