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5 Things to Know Today — September 28, 2026

  Monday, September 28, 2026  |  MoneySavings.ca Iran rejects Trump's terms for Hormuz, the US alcohol ban on Canadian goods kicks in tomorrow, the loonie posts its 13th straight losing session, Tuesday brings a key GDP print, and Ottawa quietly narrowed the federal deficit. Here's what it all means for your wallet today. 01 OF 05 🛢️ Iran Digs In on Hormuz — Trump Rejected the Deal, and Oil Stays Elevated Iran's Foreign Minister Abbas Araghchi offered over the weekend to reopen the Strait of Hormuz within seven days — the same terms attached to the June Islamabad Memorandum of Understanding that collapsed in early July. The conditions: the US lifts its naval blockade on Iranian ports, waives sanctions on Iranian oil sales, and observes a broader ceasefire. Trump rejected the offer outright on Saturday, calling it a play by a country that is "losing badly," and renaming the strait "Trump Strait" on Truth Social for good measure. As of this morning, Iran ...
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Canadian Housing Starts Plunge 22% in November as Higher Rates Bite



Canadian housing starts fell by 22% in November from the previous month, missing estimates by a wide margin, as higher borrowing costs hurt groundbreaking on multiple unit and single-family detached urban homes, data from the national housing agency showed on Friday.

The seasonally adjusted annualized rate of housing starts fell to 212,624 units from a downwardly revised 272,264 units in October, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists polled by Reuters expected starts to decrease to 257,100 in November.

As the more difficult borrowing conditions and labour shortages now seem to be showing in the starts numbers, we can expect to see continued slower starts rates in the coming months, according to CMHC’s deputy chief economist Kevin Hughes.


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