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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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Poilievre Champions Free-Market Vision in Rebuke of Carney’s Budget

 

                                           Conservative Leader Pierre Poilievre 


Conservative Leader Pierre Poilievre delivered a sharp critique of Prime Minister Mark Carney’s newly tabled federal budget, positioning his party as the defender of free-market principles against what he described as Liberal “obstacles.” Speaking at the Economic Club of Canada, just blocks away from Carney’s own budget presentation at the Canadian Club Toronto, Poilievre underscored the stark divide between the two leaders’ economic philosophies.

Poilievre’s remarks focused heavily on the size of the federal deficit, which has ballooned under Carney’s government. He argued that the Liberal plan, with its ambitious spending commitments, risks fueling inflation and burdening future generations with unsustainable debt. In contrast, Poilievre outlined a vision rooted in market-first policies, repurposing proposals from the Conservative election campaign earlier this year. His message emphasized reducing government interference, cutting red tape, and empowering businesses to drive growth.

The timing of the speeches highlighted the political theatre at play: while Carney sought to inspire confidence in his “generational investments” aimed at transforming Canada’s economy, Poilievre painted the budget as reckless and inflationary. He accused the Liberals of creating barriers for entrepreneurs and taxpayers, while Conservatives would focus on removing obstacles and unleashing private-sector innovation.

The clash sets the stage for a high-stakes confidence vote in Parliament later this month. With the Liberals holding a minority, they will need support from opposition parties to pass the budget. Poilievre has made clear that his caucus will not back a plan that expands deficits beyond last year’s projections, signaling a turbulent path ahead for Carney’s government.

Ultimately, Poilievre’s speech reinforced his strategy of framing the Conservatives as the party of fiscal discipline and economic freedom. Whether this resonates with Canadians facing affordability challenges remains to be seen, but the contrast between Carney’s state-led investments and Poilievre’s market-first approach is now firmly drawn.

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