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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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Calgary Dentist Faces Prison for $680K Insurance Fraud

 

Calgary dentist Alena Smadych pleaded guilty to fraud in June, admitting to falsely billing insurance companies when she was the owner of a local dental clinic


A Calgary dentist who admitted to defrauding insurance companies of more than $680,000 could spend up to three years in prison, according to Crown prosecutors.

Dr. Alena Smadych, former owner of All About Family Dental, pleaded guilty to fraud earlier this year after submitting falsified claims to multiple insurers between 2013 and 2023. Initially, she admitted to more than $125,000 in phoney billings to Sun Life and Blue Cross, but subsequent investigations revealed additional fraudulent claims totaling $558,000 across three more companies.

The Crown argued during Friday’s sentencing hearing that Smadych’s actions represented a decade-long scheme that undermined trust in the insurance system. Her clinic was once the highest billing practice in Canada for root canals, raising red flags that eventually led to investigations.

Justice Gord Wong heard that Smadych has since made full restitution to the affected companies, but prosecutors maintain that the seriousness of the fraud warrants a custodial sentence. The defence is expected to argue for a lighter penalty, citing her cooperation and repayment.

The case highlights growing concerns about insurance fraud in the healthcare sector, where inflated or falsified claims can cost companies—and ultimately patients—millions. A final sentencing decision is expected in the coming weeks.

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