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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 Futures Stall After Record-Setting Rally

 


US stock futures wobbled on Friday, losing steam after a record-setting rally and blowout month as the relief sparked by an influential inflation reading ebbed. The S&P 500 futures were little changed, coming off the benchmark’s record close and best February in almost a decade. Futures on the Dow Jones Industrial Average and the tech-heavy Nasdaq 100 also wavered around the flatline.

Stocks are kicking off March in a subdued mood, a shift from the upbeat reaction to PCE data that showed inflation continued to cool — easing worries the Federal Reserve would get more reason to hold off from interest-rate cuts. But further scrutiny has highlighted signs of “sticky” inflation that will be harder to shift.

Among big movers, shares in New York Community Bancorp (NYCB) tumbled 20% in premarket after the exit of its CEO, a $2.7 billion quarterly loss, and findings of “material weaknesses” in the bank’s loan processes. Meanwhile, Dell (DELL) shares rose almost 25% in the wake of a quarterly sales and profit beat fueled by AI prospects for its servers. Developments at OpenAI caught the attention of investors tracking the sector. Elon Musk has sued the Microsoft-backed company and its CEO Sam Altman, among others, over a breach of contract. Also, the ChatGPT maker is reportedly set to name new board members in March to end an impasse linked to Altman’s abrupt firing last year.

In summary, the market’s exuberance has tempered, and investors are closely watching inflation trends and corporate developments. As we navigate March, the delicate balance between economic indicators and market sentiment remains crucial.


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