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5 Things to Know Today: BoC Holds, Housing Forecast Cut, Fixed-Rate Squeeze (July 17, 2026)

  July 17, 2026 Rates held, home sales forecasts got trimmed again, and fixed-rate mortgage shoppers are feeling the pinch of a wider gap versus variable. Here's what actually moves your money today. 1. The Bank of Canada held its rate at 2.25% — for the sixth straight time The central bank kept its overnight rate unchanged on Wednesday, exactly as economists expected, while trimming its 2026 growth outlook. Policymakers flagged that inflation is gradually cooling but said lingering geopolitical risk and U.S. trade uncertainty keep them cautious about moving in either direction. The next scheduled decision is September 2. What it means for you: Prime rate stays at 4.45%, so variable mortgages, HELOCs, and lines of credit don't move this month. If you're on a variable rate, your payment is unchanged. Savings account and GIC rates aren't likely to shift much either. 2. CREA cut its 2026 home sales forecast again — now expecting a decline The Canadian Real Estate Associat...
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U.S. Futures Edge Higher Amid Trump Rally and Anticipation of Fed’s Rate Decision

 

U.S. stock futures are showing modest gains following a significant rally sparked by Donald Trump’s return to the presidency. Investors are now keenly awaiting the Federal Reserve’s upcoming interest rate decision.

Market Reaction:

The markets have reacted positively to Trump’s victory, with expectations of lower corporate taxes and deregulation driving the rally. The Dow, S&P 500, and Nasdaq all saw substantial gains, with the Dow E-minis up 82 points (0.18%), S&P 500 E-minis up 11.5 points (0.19%), and Nasdaq 100 E-minis up 49 points (0.23%) in premarket trading.

Federal Reserve’s Decision:

Traders are largely anticipating a 25-basis point rate cut from the Federal Reserve. The central bank’s policy statement will be closely scrutinized for any indications of future monetary easing. The market’s focus is also on whether the Republican party will maintain control of the House of Representatives, which could further influence economic policies.

Investor Sentiment:

Investor sentiment remains cautiously optimistic. While some stocks that surged post-election have given back gains, others like Qualcomm have continued to perform well. The VIX, Wall Street’s “fear gauge,” is trading at a six-week low, indicating reduced market volatility.

As the day progresses, all eyes will be on the Federal Reserve’s announcement and its potential impact on the markets.


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