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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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From Heatwave to Hoodie Weather: Ontario and Quebec Brace for a Sudden Chill

 

As August draws to a close, residents of Ontario and Quebec are set to experience a dramatic shift from summer’s lingering heat to an early taste of autumn. The culprit? A powerful atmospheric chain reaction sparked by Hurricane Erin’s journey across the Atlantic.

Meteorologists say Erin’s interaction with a secondary low from Greenland will lock a deep trough over the Great Lakes, steering a cold front through the region by Sunday. This front could bring thunderstorms before ushering in a crisp, dry air mass.

By Monday, daytime highs in Toronto are expected to hover in the low 20s — roughly 5°C below seasonal norms — while northern communities like Timmins could see highs of just 14°C and overnight lows in the single digits. The sudden cool-down over the still-warm Great Lakes may also trigger waterspouts and lake-effect showers.

Forecasters expect the unseasonably cool weather to linger into early September before temperatures rebound toward seasonal averages for the Labour Day weekend. For many, it’s a reminder that summer’s grip can loosen quickly — and that sweater season might arrive sooner than expected.

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