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The Fed Decides Wednesday — Here's What It Means for Your Mortgage, the Loonie, and Your RRSP

  Monday, July 27, 2026 The U.S. Federal Reserve hands down its rate decision at 2 p.m. ET on July 29. For most Canadians it will feel like background noise. It isn't — here's the plain-language version of why it touches your mortgage, your cross-border spending, and whatever's sitting in your RRSP. The short version: Markets are pricing roughly a two-in-three chance the Fed holds its rate at 3.50%–3.75% on Wednesday. That's not the story. The story is that this is one of the least certain "sure thing" holds in years — and Chair Kevin Warsh's press conference at 2:30 p.m. ET could matter more than the decision itself. Why this meeting is different The Fed has held its benchmark rate steady at 3.50%–3.75% through every meeting so far in 2026. On paper, Wednesday should be more of the same. Under the hood, it's messier. Persistent inflation, running well above the Fed's 2% target for a fifth straight year, has kept a rate hike on the table. The oil-...
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Canada’s $1.1B Hotel Tab for Asylum Seekers Sparks Debate Over Immigration Spending

 

The Canadian government has spent a staggering $1.1 billion on hotel accommodations for asylum seekers over the past few years, according to newly released figures. The expense, which covers temporary housing for tens of thousands of migrants awaiting refugee claims, has ignited fresh debate over the sustainability and efficiency of Canada’s immigration support systems.

Hotels have been used as emergency shelters due to a shortage of available space in traditional refugee housing facilities. While officials argue the measure was necessary to uphold humanitarian obligations, critics say the ballooning costs reflect poor planning and a lack of long-term strategy.

The federal government has defended the spending, citing the surge in asylum claims and the need to provide safe, dignified shelter. However, opposition leaders and some provincial governments are calling for reforms, including faster claim processing and more investment in permanent housing solutions.

As Canada continues to welcome newcomers fleeing conflict and persecution, the $1.1-billion hotel bill underscores the urgent need for a more sustainable approach to refugee resettlement.

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