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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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Hurricane Melissa Slams Toward Jamaica as Strongest Storm in Island’s History

A wave crashes, as Hurricane Melissa approaches, in the Harbour View neighbourhood of Kingston, Jamaica, October 27, 2025.




Jamaica is bracing for the full force of Hurricane Melissa, a Category 5 monster storm with sustained winds of 175 mph and higher gusts, making it the strongest tropical cyclone of 2025 and potentially the most destructive hurricane ever to strike the island.

According to the National Hurricane Center (NHC), Melissa is expected to make landfall on Tuesday, bringing catastrophic winds, torrential rainfall, and life-threatening storm surge. Forecasters warn of 15 to 30 inches of rain, with isolated areas possibly receiving up to 40 inches, triggering deadly flash floods and landslides in Jamaica’s mountainous regions.

Officials have urged residents to shelter in place, with schools, businesses, and airports closed across the island. Emergency shelters are at capacity as thousands of people seek refuge from the storm’s path. The Jamaican government has declared a state of emergency, mobilizing disaster response teams and military units to assist with evacuations and relief efforts.

Melissa’s impact is expected to extend beyond Jamaica, with Cuba, the Bahamas, and the Turks and Caicos Islands also forecast to experience severe weather in the coming days. The storm has already been compared to Hurricane Gilbert of 1988, but experts caution that Melissa’s intensity could surpass even that infamous disaster.

As the storm edges closer, forecasters emphasize that “catastrophic and life-threatening conditions” are imminent. Power outages, communication breakdowns, and widespread infrastructural damage are anticipated, with recovery likely to take months.

For now, Jamaica stands on the brink of what could be its worst natural disaster in modern history, as Hurricane Melissa barrels toward the island with unprecedented fury.


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