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Sweating a possible rate hike? Lock in your mortgage now, experts say

OTTAWA — Homeowners with variable rate mortgages losing sleep over the increased chatter about a potential interest rate hike by the Bank of Canada should consider locking their rates in now, mortgage experts say.

James Laird, co-founder of interest rate-comparison website RateHub, says in order to stick with the variable option you need to be able to handle fluctuating rates.

May's election gamble backfires

LONDON—British Prime Minister Theresa May's gamble in calling an early election backfired spectacularly as her Conservative Party lost its majority in Parliament, throwing British politics into chaos.

The shock result could send Britain's negotiations to leave the European Union—due to start June 19—into disarray.

The pound lost more than two cents against the U.S. dollar.

China’s Xi outlines plans for wide co-operation in trade plan

BEIJING — Chinese President Xi Jinping expressed ambitious hopes Monday for Asian and European governments to work closely on finance, law enforcement and a broad range of other issues under a Beijing-led trade initiative as leaders of 30 countries ended a meeting to promote the effort.