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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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Dow Touches 40,000 for the First Time, But Stocks Pull Back from Records

 

Despite the Dow Jones Industrial Average (DJI) reaching a historic milestone by touching 40,000 for the first time ever, U.S. stocks couldn’t sustain their upward momentum. Here’s a summary of today’s market activity:

  • Dow Jones Industrial Average (DJI): The Dow briefly surpassed 40,000 but closed down 0.1% at 39,869.
  • S&P 500 (GSPC): The S&P 500 dropped around 0.2%, closing just below 5,300 after reaching that level for the first time on Wednesday.
  • Nasdaq Composite (IXIC): The tech-heavy Nasdaq fell about 0.3%.

Factors Influencing the Market

  1. Inflation Concerns: Three Federal Reserve officials—Cleveland Fed President Loretta Mester, New York Fed President John Williams, and Richmond Fed President Thomas Barkin—expressed caution about higher interest rates. Their comments dampened the recent stock rally.
  2. Bond Yields: Investors turned to bonds, pushing the 10-year Treasury yield (TNX) near one-month lows at around 4.33%. On Thursday, yields ticked up slightly to around 4.38%.
  3. Corporate News: Walmart (WMT) reported better-than-expected quarterly profits, revenue, and same-store sales, boosting its stock by over 7%. Meanwhile, Warren Buffett’s Berkshire Hathaway (BKR-B) revealed a $6.7 billion stake in Chubb (CB), ending months of speculation.

Venu Sports: A New Streaming Service

In other news, Disney’s ESPN, Warner Bros. Discovery, and Fox have officially named their upcoming sports streaming service: Venu Sports. Set to debut this fall, Venu Sports will offer an extensive collection of live sports content, representing approximately 55% of U.S. sports rights.

Stay tuned for further market updates and developments! 

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