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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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Back to School, But Not Back to Normal: Alberta Ends Teacher Strike

 

                                           Premier Danielle Smith


After a tense three-week standoff, more than 740,000 students across Alberta are returning to class following the end of the provincewide teachers' strike. The Alberta government invoked the Charter’s notwithstanding clause to legislate 51,000 teachers back to work, marking a dramatic conclusion to one of the largest education-related labor actions in the province’s history.

Premier Danielle Smith defended the move, stating that the prolonged strike had caused “irreparable harm” to students and families, and that the government had no alternative but to act decisively. The Alberta Teachers’ Association (ATA), while complying with the back-to-work order, expressed deep concern over the use of the notwithstanding clause, calling it a violation of constitutional rights.

School boards have warned that the return to routine may not be seamless. Delays in diploma exams, adjustments to extracurricular activities, and staffing challenges are expected as schools work to stabilize operations. Despite the disruption, the ATA has confirmed that teachers will not engage in work-to-rule tactics, though many educators are reconsidering the extent of their voluntary contributions, such as coaching and directing school plays.

The strike, which began on October 6, stemmed from disputes over wages, classroom conditions, and workload. The ATA had proposed a phased approach to improving student-teacher ratios and countered the government’s salary offer, but negotiations stalled, prompting legislative intervention.

As classrooms reopen, the focus now shifts to healing the rift between educators and the government, and ensuring students regain lost learning time in a stable and supportive environment.


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