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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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Tragedy on the East River: Mexican Navy Ship Collides with Brooklyn Bridge

A Mexican Navy training ship, the Cuauhtémoc, struck the Brooklyn Bridge on Saturday night, snapping its three towering masts and killing two crew members. The vessel, which was on a global goodwill tour, was carrying 277 people when the collision occurred near the Brooklyn side of the East River. 

Eyewitnesses described a chaotic scene as sailors were left dangling from harnesses high above the deck, waiting for rescue. The impact also left at least 19 people injured, with four suffering serious injuries. 

New York City Mayor Eric Adams confirmed that the historic bridge sustained no major damage, and traffic resumed after an inspection. The cause of the crash remains under investigation, though preliminary reports suggest the ship may have lost power due to a mechanical failure. 

The Cuauhtémoc, a 297-foot-long vessel, had arrived in New York earlier in the week and was scheduled to continue its journey to Iceland. Mexican President Claudia Sheinbaum expressed condolences to the families of the deceased crew members, calling the incident a tragic loss. 

Authorities are now working to determine the exact circumstances that led to the collision, as the maritime community mourns the lives lost in this devastating accident.

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