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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Missile Barrage Strikes Northern Israel: Emergency Services Respond to Escalating Tensions

 

Israeli emergency services reported dealing with a string of fires in northern Israel on Friday after dozens of missiles were fired from southern Lebanon into the area around the border town of Kiryat Shemona. The military confirmed that warning sirens had sounded in northern Israel, and emergency services teams were dispatched to search the affected area. Fortunately, there were no casualties reported, but property damage occurred.

Television footage showed damaged buildings, cars, and brush fires caused by strikes or falling debris amid heatwave conditions. The Israeli military has been engaged in regular exchanges of fire with Hezbollah forces across the border in southern Lebanon since the start of the war in Gaza last October. While neither side appears to desire a wider conflict, the escalating strikes raise concerns about the situation spiraling out of control.

The latest salvo followed an Israeli strike that killed a senior commander from the Iranian-backed Hezbollah militia in southern Lebanon earlier this week. Tens of thousands of residents have been evacuated from their homes on both sides of the border, putting pressure on diplomatic efforts to resolve the stand-off.

On Friday, the Israeli Air Force intercepted 11 out of 16 drones launched by Hezbollah against Israel in the past 72 hours. The situation remains tense, with the risk of further escalation in a region that has already witnessed direct exchanges between Israel and Iran.


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