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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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Shutdown Stalemate: Blame Game Erupts as Parks and Museums Close

 

Vice President JD Vance, gestures as he stands with White House press secretary Karoline Leavitt, right, while speaking with reporters in the James Brady Press Briefing Room at the White House, Wednesday, Oct. 1, 2025, in Washington.


The U.S. government officially shut down at midnight on October 1 after lawmakers failed to reach a funding agreement, triggering the closure of national parks, museums, and other federal tourist attractions.

On the first day of the shutdown, both Republicans and Democrats wasted no time pointing fingers. The White House accused Democrats of forcing the crisis by demanding health care provisions in the budget, while Democratic leaders countered that Republicans and President Donald Trump refused to compromise on Medicaid cuts and the extension of health care subsidies.

The fallout was immediate: hundreds of thousands of federal workers faced furloughs, while essential employees continued without pay. Visitors arriving at landmarks such as the Smithsonian museums and national parks were met with locked gates and “closed” signs, a visible reminder of the political deadlock.

With no resolution in sight, analysts warn that the longer the shutdown drags on, the greater the economic and social toll will be — from delayed federal services to strained local economies that rely on tourism.


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