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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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Israel’s Intensifying Military Operation in Rafah Sparks International Concerns

 

In a recent escalation of conflict, Israel has intensified its military operation in the southern Gaza city of Rafah. Despite U.S. warnings about the risk of mass casualties, Israeli forces have pushed forward, bombarding towns in the north of the Strip and vowing to broaden their ground operation in Rafah. Here are the key points:

  1. Intensified Conflict: Israeli forces have made a new push in central Gaza, leading to intense battles in Jabalia, a northern Palestinian enclave. At least 23 people have been killed in the latest fighting.

  2. Rafah’s Importance: Israel considers Rafah, located on Gaza’s border with Egypt, as Hamas’ last stronghold. The city has become a focal point of the conflict, with hundreds of thousands of displaced Palestinians seeking shelter there.

  3. International Concerns: Western powers are deeply concerned about the humanitarian situation in Rafah. Despite Israeli assurances, civilians have been caught in the crossfire, and the United Nations estimates that over 810,000 people have fled the city since the conflict escalated.

  4. Allies at Odds: Israel’s plan for an all-out assault on Rafah has strained its relationship with its main ally, the United States. Washington even held up a weapons shipment due to fears of large civilian casualties.

  5. Prime Minister’s Stance: Israeli Prime Minister Benjamin Netanyahu has vowed to press ahead with sending troops into Rafah, rejecting international pressure. He emphasized that Israel is determined to realize its war aims, regardless of the risks.

The situation remains tense, and the world watches closely as the conflict unfolds. The fate of Rafah and its civilian population hangs in the balance.

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