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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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Israel’s 12-Day Air Campaign Delivers Major Blow to Iran’s Nuclear Program, Official Claims

In the aftermath of a 12-day military campaign, a senior Israeli official has claimed that Israel’s air force killed over 30 Iranian security chiefs and 11 nuclear scientists, striking more than 900 targets across Iran. The operation, which began on June 13, was described as a strategic effort to cripple Iran’s nuclear capabilities and missile infrastructure.

According to the official, the opening strike severely damaged Iran’s aerial defenses, giving Israel a critical early advantage. The campaign reportedly neutralized Iran’s ability to enrich uranium to weapons-grade levels and disrupted its capacity to produce a nuclear weapon core.

Iran, which denies pursuing nuclear weapons, responded with missile barrages targeting Israeli military sites and cities. While Iranian authorities reported 627 deaths, including top commanders and civilians, Israeli officials stated that 28 people were killed in Israel during the conflict.

The war concluded with a U.S.-brokered ceasefire. In Tehran, massive funeral processions were held for the fallen, including high-ranking Revolutionary Guard leaders and nuclear scientists, underscoring the scale of the losses.

The long-term implications of the strikes remain uncertain, but Israeli defense leaders have signaled intentions to maintain air superiority and prevent Iran from rebuilding its nuclear and missile programs.

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