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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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Gaza Reels from Israeli Strikes as Ceasefire Talks Gain Momentum

At least 60 Palestinians were killed in a series of Israeli airstrikes across Gaza late Friday into Saturday, according to health officials, as diplomatic efforts to broker a ceasefire appear to be gaining traction.

The strikes targeted multiple locations, including a shelter near Palestine Stadium in Gaza City and residential buildings, resulting in dozens of casualties. Hospitals in Gaza, including Shifa and Nasser, reported receiving scores of bodies, many of them women and children.

The escalation comes amid growing international pressure to end the 21-month-long conflict, which has claimed over 56,000 Palestinian lives, according to Gaza’s Health Ministry. U.S. President Donald Trump stated on Friday that a ceasefire agreement could be reached “within the next week,” signaling renewed diplomatic engagement.

Meanwhile, humanitarian conditions in Gaza continue to deteriorate. Food supplies remain critically low, and aid distribution has been hampered by looting and violence. Despite limited aid trickling in since mid-May, many Palestinians remain without access to basic necessities.

As negotiations resume, families of hostages and civilians alike await a breakthrough that could bring an end to the suffering on both sides.

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