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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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Stock Market Today: S&P 500 Hits Fresh Record as All Eyes Turn to Fed Decision

                                      
    
Wall Street closed the trading session on a high note Tuesday, as investors braced for the results of a crucial Federal Reserve policy meeting. Here are the key highlights:

  1. S&P 500 Record High: The S&P 500 rose close to 0.6%, beating back earlier losses to close at a fresh record high of 5,178.51. This surge reflects optimism and resilience in the face of recent market volatility.

  2. Dow Jones Industrial Average: The Dow Jones Industrial Average also performed well, rising 0.8%, which translates to more than 300 points. This gain underscores the market’s confidence in the current economic landscape.

  3. Nasdaq Composite: The tech-heavy Nasdaq Composite increased by almost 0.4%, with Nvidia shares gaining ground following AI updates from its annual developer conference. This tech-driven momentum contributed to a second-straight winning day for major stock indices.

Attention is firmly on the Federal Reserve’s two-day meeting, which began Tuesday morning. Investors are keenly observing this meeting as a test for stocks that have been bruised by recent inflation surprises. The central question: Will the Fed signal any interest-rate cuts soon? Policymakers are widely expected to keep rates at their historic highs, but all eyes are on the “dot plot” for clues about the number and timing of any cuts this year. The policy decision is due Wednesday at 2 p.m. ET.

While the Fed deliberates, the Bank of Japan has made waves by ending its era of negative rates with its first hike in 17 years. This move adds to the intrigue of a week packed with central bank decisions. Meanwhile, in the world of cryptocurrencies, bitcoin continues to pull back from its recent record high, falling over 5% at one point. Shares of crypto-linked companies like Coinbase and Marathon Digital have also experienced losses alongside the token.

On the corporate front, shares of Unilever popped after the company announced plans to cut jobs and spin off its ice cream unit. These strategic moves reflect the dynamic landscape of global markets and investor sentiment.

In summary, the stock market’s resilience, coupled with central bank decisions and corporate developments, sets the stage for an eventful week. Investors remain cautiously optimistic, navigating volatility while keeping an eye on policy shifts and economic indicators.

Remember, investing involves risks, and past performance is not indicative of future results. Stay informed, diversify your portfolio, and make decisions based on your financial goals and risk tolerance.


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