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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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Israeli Airstrike on Tehran’s Evin Prison Leaves 71 Dead, Iran Says

In a dramatic escalation of hostilities, Iran has reported that an Israeli airstrike on Tehran’s notorious Evin Prison killed at least 71 people. The strike, which occurred on June 23 during a 12-day conflict between the two nations, targeted the prison’s administrative buildings and surrounding areas.

According to Iranian judiciary spokesperson Asghar Jahangir, the victims included prison staff, conscripts, detainees, visiting family members, and nearby residents. The facility, long criticized by human rights groups for detaining political prisoners and foreign nationals, suffered significant structural damage, including to its health center and visitor halls.

The attack has drawn international concern, particularly from France, which condemned the strike for endangering its citizens held at the prison. Iranian authorities have since relocated the remaining inmates to other facilities in Tehran province.

The strike on Evin Prison marks a symbolic shift in Israel’s targeting strategy, extending beyond military and nuclear sites to institutions seen as pillars of Iran’s internal control.

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