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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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Lecornu Narrowly Escapes Ouster as French PM Survives Twin No-Confidence Votes

 

French Prime Minister Sebastien Lecornu makes his pitch to remain in post to lawmakers in the National Assembly in Paris on Thursday ahead of two confidence votes, both of which ultimately failed.


French Prime Minister Sébastien Lecornu has survived two high-stakes no-confidence votes in the National Assembly, narrowly averting the collapse of his fragile government. The motions, brought separately by the hard-left France Unbowed party and the far-right National Rally, fell short of the 289 votes required to topple his administration.

Lecornu, a close ally of President Emmanuel Macron, secured crucial backing from the Socialist Party after pledging to suspend Macron’s controversial pension reform until after the 2027 presidential election. This concession helped him withstand the first motion, which garnered 271 votes. The second, filed by Marine Le Pen’s National Rally, failed more decisively with only 144 votes in favor.

While the outcome spares Macron from calling risky snap elections, it underscores the deep divisions within France’s lower house. Lecornu now faces the daunting task of steering the 2026 budget through a fractured parliament, a challenge that could prove even more perilous than the no-confidence battles themselves.


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