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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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Prison Error Sees Wrong Family Told of Inmate’s Death

                                            Mohammed Ahmed, 46, died at HMP Frankland last year.  


A serious administrative blunder at HMP Frankland in Durham led to the wrong family being informed about the death of inmate Mohammed Ahmed. The 46-year-old, serving an indefinite sentence for attempted murder and a later attack on a probation officer, took his own life in March 2024.

According to a Prisons and Probation Ombudsman report, police in Rochdale were dispatched to what was believed to be Ahmed’s next-of-kin address. However, the details—taken from a visits list—were for a different prisoner with the same name at another facility. Ahmed’s actual family was contacted the following day.

The Prison Service has apologised for the distress caused and pledged to carry out annual checks of inmates’ next-of-kin details to prevent similar mistakes.


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