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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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White House Showdown: Trump and King Abdullah Clash Over Gaza’s Future

 

At the White House on Tuesday, President Donald Trump is set to meet with Jordan’s King Abdullah II in what promises to be a high-stakes discussion on the future of Gaza. In recent days, Trump has pushed a controversial proposal envisioning the transformation of the war‐torn Gaza Strip into what he calls the “Riviera of the Middle East.” His plan would require relocating Gaza’s Palestinian residents to neighboring Arab states—including Jordan and Egypt—a proposal that has already sparked widespread outrage in the region and raised fears of further instability.

The meeting comes amid heightened tensions surrounding a fragile ceasefire between Israel and Hamas. After Hamas announced a pause in the release of hostages—accusing Israel of violating the truce—Trump intensified his rhetoric, suggesting that if Jordan and Egypt do not accept Gaza refugees, he might withhold critical U.S. aid to these longtime allies. 

King Abdullah, known for his pragmatic approach to regional security, is expected to push back strongly against the proposal. Concerned that the influx of additional refugees could destabilize Jordan and undermine prospects for a two-state solution, the Jordanian monarch is likely to emphasize national dignity and long-standing regional dynamics in his response. 

As global attention remains fixed on the evolving crisis in Gaza, this tense encounter at the White House could signal a turning point in U.S.–Arab relations. Observers are keen to see whether a compromise can be reached or if divergent visions for the Middle East will further widen existing divides. 


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