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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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Canada Day: A Celebration of Unity and Sovereignty


Canada Day marks the anniversary of Canadian Confederation, when on July 1, 1867, the British North America Act (now called the Constitution Act, 1867) united the colonies of Nova Scotia, New Brunswick, and the Province of Canada (which later split into Ontario and Quebec) into a single country within the British Empire called Canada.

Originally known as Dominion Day, it was celebrated informally for many years before becoming a statutory holiday in 1879. The name was officially changed to Canada Day in 1982, the same year Canada fully patriated its constitution, severing the last legal ties to the British Parliament.

So while it’s often called “Canada’s birthday,” it’s more accurately the celebration of a major milestone on the country’s path to full sovereignty. Over time, it’s evolved from a modest observance to a nationwide celebration of Canadian identity, culture, and unity.


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