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The Fed Just Hiked Rates. Here's What It Means for Your Canadian Mortgage.

  The U.S. Federal Reserve raised its benchmark rate 25 basis points yesterday — the first hike in three years. The Bank of Canada hasn't moved. That gap is now the biggest story in Canadian personal finance. MoneySavings.ca  |  September 17, 2026  |  Canadian Money Brief Yesterday afternoon, the Federal Open Market Committee voted 12-0 to raise the U.S. federal funds rate by a quarter point, pushing it to a target range of 3.75%–4.00%. It's the Fed's first rate hike since July 2023, and Chair Kevin Warsh made clear it almost certainly won't be the last. The Bank of Canada, by contrast, has held its overnight rate at 2.25% through seven straight meetings. It doesn't decide again until October 28. For Canadians with a mortgage, a renewal coming up, or a home equity line of credit, this matters more than it might look at first glance. 3.75–4.00% New U.S. Fed Rate 2.25% Bank of Canada Rate 1.625% Rate Gap (vs. 1.375% yesterday) ~71.5¢ Loonie (post-hike low) What th...
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US Military Strikes Another Houthi-Controlled Site After Warning Ships to Avoid Parts of Red Sea


The U.S. military early Saturday struck another Houthi-controlled site in Yemen that it had determined was putting commercial vessels in the Red Sea at risk, a day after the U.S. and Britain launched multiple airstrikes targeting Houthi rebels. 

The latest strike came after the U.S. Navy on Friday warned American-flagged vessels to steer clear of areas around Yemen in the Red Sea and the Gulf of Aden for the next 72 hours after the initial airstrikes. The warning came as Yemen’s Houthis vowed retaliation, further raising the prospect of a wider conflict in a region already beset by Israel’s war in Gaza.

The U.S.-led bombardment came in response to a recent campaign of drone and missile attacks on commercial ships in the vital Red Sea. It killed at least five people and wounded six, the Houthis said. The U.S. said the strikes, in two waves, took aim at targets in 28 different locations across Houthi-controlled areas of Yemen.

President Joe Biden had warned Friday that the Iranian-backed Houthis could face further strikes. U.S. military and White House officials said they expected the Houthis to try to strike back.


 

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