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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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Europe Scorched: Deadly Heatwave Grips Continent in Record-Breaking June


A blistering early summer heatwave has swept across Europe, claiming at least eight lives and setting new temperature records in multiple countries. The extreme weather has triggered widespread health alerts, wildfires, and even forced the shutdown of a nuclear reactor in Switzerland.

Spain has been hit particularly hard, with four fatalities reported—two from wildfires in Catalonia and two more in the regions of Extremadura and Córdoba. France and Italy each reported two deaths, including elderly individuals who succumbed to the heat on beaches in Sardinia.

Temperatures soared above 40°C in parts of Germany, marking the hottest day of the year so far. Red alerts were issued across 18 Italian cities and several regions in central France, where hundreds were hospitalized due to heat-related illnesses.

The heatwave has also disrupted infrastructure. Violent storms triggered by atmospheric instability caused mudslides in the French Alps, halting rail traffic between Paris and Milan. Meanwhile, Switzerland’s Beznau nuclear power plant reduced operations due to overheated river water used for cooling.

Scientists attribute the early and intense heat to a "heat dome" effect, exacerbated by warming seas and climate change. With greenhouse gas emissions continuing to rise, experts warn that such extreme weather events are becoming more frequent and severe.

This deadly start to summer serves as a stark reminder of the urgent need for climate resilience and adaptation across Europe.

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