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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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TSX Retreats from Record High After Consumer Earnings Misses

 

                                            The facade of the original Toronto Stock Exchange building is seen in Toronto

 

Toronto’s S&P/TSX Composite Index edged down 0.1% to 27,884.47 on Thursday, pulling back from its recent record high as disappointing earnings from consumer-related stocks weighed on sentiment.

Key consumer names like Restaurant Brands International and Canadian Tire saw their shares tumble 4.3% and 4.6%, respectively, after missing second-quarter profit expectations. Rising advertising and supply chain costs were cited as major headwinds.

The retreat came amid broader investor caution following the implementation of new U.S. tariffs, with Canada facing a 35% rate after failing to reach a trade agreement. While the tariffs are limited in scope, they added to market jitters.

Gold miners offered a bright spot, with Oceangold surging 12.4% and Triple Flag Precious Metals up 7.3%, as investors sought safe-haven assets amid trade uncertainty.


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