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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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U.S. Envoy Presses Netanyahu as Gaza Teeters on Famine and Ceasefire Talks Stall

 

                                                    Israel has eased aid restrictions in Gaza following international
                                                    condemnation and fears of famine.  

U.S. Special Envoy Steve Witkoff met with Israeli Prime Minister Benjamin Netanyahu on Thursday in a renewed push to revive stalled ceasefire negotiations and address the deepening humanitarian crisis in Gaza.

Witkoff’s visit comes as indirect talks between Israel and Hamas in Doha collapsed last week, with both sides blaming each other for the impasse. The key sticking points include the extent of Israeli military withdrawal and the release of hostages in exchange for Palestinian prisoners.

The humanitarian situation in Gaza has reached alarming levels. According to Gaza health officials, at least 156 people—mostly children—have died from starvation and malnutrition, with aid convoys facing peril from both Israeli forces and looters. In response to mounting global outrage, Israel announced a daily 10-hour pause in military operations to allow aid deliveries, though the UN has warned that the volume of aid remains “far from enough”.

Canada recently joined other Western nations in recognizing a Palestinian state, increasing diplomatic pressure on Israel to reach a resolution. Meanwhile, Netanyahu remains firm in his stance that the war will not end until Hamas relinquishes control of Gaza and disarms—a demand Hamas has rejected.

Witkoff is expected to visit aid distribution sites and continue diplomatic efforts, though prospects for a breakthrough remain uncertain.


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