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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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Ottawa’s Draft Infrastructure List Puts New Alberta–B.C. Oil Pipeline Back in Play

 



The federal government’s internal draft list of 32 potential infrastructure projects under the new Building Canada Act includes a controversial proposal: a new oil pipeline linking Alberta’s heavy crude to the Pacific Coast via northwest British Columbia.

Dubbed the Northwest Coast Oil Pipeline, the project is a top priority for Alberta Premier Danielle Smith, who argues it would open direct access to Asian markets and strengthen Canada’s trade diversification. However, the B.C. government has voiced concerns over its feasibility and funding, while several coastal First Nations have urged Ottawa to reject the plan.

The draft list, obtained by The Globe and Mail, spans all provinces and territories, featuring 14 energy projects, eight mines, five ports, and major transport upgrades. Highlights include LNG Canada Phase 2 in Kitimat, Ontario’s small modular reactors at Darlington, and the Mackenzie Valley Highway in the Northwest Territories.

Under Bill C‑5, projects deemed in the “national interest” could be fast-tracked through a new Major Projects Office in Calgary, led by former Trans Mountain CEO Dawn Farrell. Prime Minister Mark Carney has pledged to prioritize initiatives that create jobs, diversify trade, and balance conventional energy with clean technology investments.

Consultations with Indigenous communities and affected regions will be required before the final list is approved — setting the stage for a national debate over how Canada should balance energy security, environmental protection, and economic growth.


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