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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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Federal Judge Halts Trump’s Military Deployment in Los Angeles, Citing Violation of Posse Comitatus Act

 

Members of the California National Guard are deployed outside a complex of federal buildings in Santa Ana, California


A federal judge in San Francisco has blocked the Trump administration from using federal troops for law enforcement in California, ruling that the deployment of National Guard members and U.S. Marines to Los Angeles violated the 1878 Posse Comitatus Act, which restricts the use of the military in domestic policing.

U.S. District Judge Charles Breyer found that the administration’s actions—sending 4,000 National Guard troops and 700 Marines to assist in immigration raids and crowd control—overstepped legal limits and risked creating what he described as a “national police force with the president as its chief”. The ruling, which follows a three-day trial, prohibits the use of troops for arrests, searches, seizures, traffic control, or crowd management, though they may still protect federal property.

California Governor Gavin Newsom, who filed the lawsuit, hailed the decision as a victory against what he called the “illegal militarization” of American cities. The order is on hold until September 12 to allow the Trump administration time to appeal.


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