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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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Carney Stands by Foreign Travel, Citing Gains in Trade and Investment

 

                                            Prime Minister Mark Carney


Prime Minister Mark Carney is pushing back against criticism of his frequent international travel, insisting that his trips abroad are essential to advancing Canada’s economic and diplomatic interests.

Carney, who has already visited more than a dozen countries since taking office in March, argues that these missions are laying the groundwork for stronger trade partnerships and new investment opportunities. “We are building our strength at home, diversifying our partnerships abroad and creating a web of strong global connections,” he said in a recent statement.

The prime minister’s latest stop is London, where he is attending the Global Progress Action Summit alongside leaders from the U.K., Australia, Spain, and Denmark, as well as meeting with energy firms and investment bodies.

Opposition parties, however, have accused Carney of neglecting domestic issues, pointing to rising concerns over affordability and inflation. Conservative Leader Pierre Poilievre has criticized the prime minister’s “globe-trotting,” suggesting Canadians are left to deal with worsening conditions at home.

Supporters counter that Carney’s outreach is a necessary response to shifting global dynamics, particularly as Canada seeks to diversify trade ties beyond the United States. International affairs experts note that his efforts are aimed at positioning Canada as “open for business” and attracting long-term investment.

As Carney continues his diplomatic push, the debate over whether his travels deliver tangible benefits for Canadians is likely to intensify.


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