Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Wall Street Slips as Nasdaq Leads Declines: Market Recap

 

Wall Street’s recent record-breaking rally hit a speed bump on Friday, with the S&P 500 and the Nasdaq both losing ground. High-flying chip stocks reversed their trajectory, and a labor market report added to the market’s caution.

Key Takeaways:

  1. S&P 500: The broad U.S. index slipped 0.65%, closing at 5,123.69 after touching intraday record highs.
  2. Nasdaq Composite: The tech-heavy Nasdaq bore the brunt, losing 188.26 points to settle at 16,085.11.
  3. Chip Stocks: The Philadelphia Semiconductor Index initially surged to an intraday record but later retreated, impacting the overall market sentiment. Nvidia, a prominent AI chip company, lost ground after a remarkable run, while Broadcom and Marvell Technology faced headwinds due to disappointing forecasts.
  4. Labor Market Data: U.S. job growth accelerated in February, with nonfarm payrolls adding 275,000 jobs (above the expected 200,000 rise). However, the unemployment rate unexpectedly rose to 3.9%, and wage growth slowed to 0.1% on a monthly basis.

Investors engaged in profit-taking, leading to the market’s pullback. Despite this, the general bias remains positive, with hopes that inflation will remain benign and the Federal Reserve will continue its accommodative stance. As we navigate the markets, vigilance toward economic indicators and global events remains critical.



Labels:

Comments

Post a Comment