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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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Fragile Gaza Truce Shaken as Israeli Strikes Kill Over 100

 

A heavily damaged building housing the Bank of Palestine, following Israeli strikes, in Gaza City.


The fragile ceasefire between Israel and Hamas, brokered earlier this month, is under severe strain after a new wave of Israeli airstrikes devastated Gaza. More than 100 Palestinians, including dozens of children, were killed in overnight attacks on October 29, marking the deadliest 24 hours since the truce began nearly three weeks ago.

According to medical sources in Gaza, the strikes hit residential areas across the enclave, leaving hospitals overwhelmed and families mourning at al-Shifa Hospital in Gaza City. The Israeli military said the attacks were in response to what it described as Hamas violations of the ceasefire, including an assault that killed an Israeli soldier.

By Wednesday afternoon, Israel announced it was once again enforcing the ceasefire, but warned it would respond “firmly” to any further breaches. The back-and-forth has raised doubts about the durability of the agreement, which was meant to pave the way for a phased Israeli withdrawal and humanitarian relief.

The truce, signed on October 9, was hailed as a breakthrough after two years of devastating conflict. Yet thorny issues remain unresolved, including the disarmament of Hamas, the release of hostages, and the timeline for Israeli troop withdrawal. Each flare-up of violence underscores how fragile the deal is, with both sides trading accusations of bad faith.

International observers warn that the cycle of strikes and counterstrikes risks collapsing the agreement entirely. U.S. President Donald Trump has insisted the ceasefire is “not at risk,” but the mounting civilian toll and repeated violations suggest otherwise.

For Palestinians in Gaza, the promise of peace has quickly given way to renewed fear. With aid deliveries restricted and infrastructure in ruins, the humanitarian crisis deepens each day the truce falters.

In short: the ceasefire still exists on paper, but on the ground, it is hanging by a thread.


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