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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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Wall Street Pauses Near Record Highs as Investors Await Powell’s Remarks


U.S. stock futures hovered close to record levels on Tuesday, with traders showing restraint ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell.

Dow Jones Industrial Average futures edged up about 0.2%, while contracts tied to the S&P 500 and Nasdaq 100 were little changed. The muted moves come after Wall Street notched a third straight day of record closes on Monday, fueled by optimism over artificial intelligence investments and expectations of further Fed policy easing.

Tech stocks remain in focus, with Nvidia’s $100 billion investment in OpenAI continuing to energize the sector. Meanwhile, Micron Technology is set to report earnings later today, offering fresh insight into AI-driven demand for semiconductors.

Investors are also eyeing Friday’s release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, which could shape expectations for additional rate cuts before year-end. Gold prices, reflecting those bets, climbed to fresh all-time highs.

Powell’s midday comments are expected to provide clarity on the central bank’s outlook following its first rate cut of 2025. Markets are eager for signals on whether more easing lies ahead, a key factor underpinning the recent rally.


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