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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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Fierce Snow Squalls Slam Region with More Accumulation


Residents across southern Ontario are bracing for another round of dangerous snow squalls on Monday, with forecasters warning of an additional 10–15+ cm of accumulation.

Key Details

  • Heavy bursts of snow: Squalls are expected to reduce visibility to near zero at times, making travel treacherous.
  • Rapid accumulation: The additional snowfall will pile onto what has already fallen, creating hazardous road conditions.
  • Wind gusts: Strong winds will intensify the squalls, blowing and drifting snow across highways and rural routes.
  • Travel advisory: Authorities urge drivers to avoid unnecessary travel and prepare for sudden whiteout conditions.

Impact

The combination of heavy snow and gusty winds is likely to disrupt commutes, delay transit, and increase the risk of collisions. Local officials are reminding residents to keep emergency kits in vehicles and to check weather updates frequently.


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